Fun Time RV in Cleburne, TX, largest-selling dealer of towable recreational vehicles in the U.S.
Hoodoo
Sunday, May. 16, 2010
By SHLACHTER & CO.
http://www.star-telegram.com/2010/05/16/2193214/shlachter-co-lenders-shut-down.html
The economic hard times have claimed another casualty. Fun Time RV in
Cleburne, the largest-selling dealer of towable recreational vehicles in
the U.S., has apparently been shut down by its lenders.
They pulled the floor plan financing about May 6 and began hauling away
trailers in the days thereafter, Johnson County Tax Assessor-Collector
Scott Porter confirmed to the Star-Telegram.
Phone calls to the dealership all last week went unanswered. Owners of
RVs being serviced were reportedly allowed on the premises later in the
week to pick up their vehicles.
Owner Sam Kidd opened the dealership in 1982 and over the last decade
had expanded significantly, adding air-conditioned showrooms and turning
one building into an entertainment center to help keep families occupied
while shopping for an RV. Kidd was also developing an RV park on the site.
At week's end, there had been no bankruptcy filing by the dealership.
Porter said he spent quite a bit of time with dealership personnel at
the site and with local banks poring over records and obtaining bank
account information. The county is owed about $434,000 in property taxes
for 2010, 2009 and earlier years.
Porter said GE Commercial Distribution Finance had been Fun Time's major
provider of floor plan financing for its inventory of RVs. According to
public records, other lenders included First Financial Bank of Cleburne,
ADP Financing, American National Bank of Texas in Terrell, Community
Bank in Cleburne, North Star Bank of Texas in Denton and Textron
Financial Corp.
The news hit the RV trade media immediately. RV Daily Report.com posted
a short item May 6 after news that lenders had seized control of the
facility leaked out. As of Friday, the posting had received nearly 6,000
unique hits, an all-time record for the website, editor Greg Gerber
said. About 200 comments had been posted.
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