35 replies to this topic

[DanoT]

ckent,

I would think if liquidating the assets could come close to paying the creditors the company wouldn't have filed. I've heard the XP's are really nice, as they should be for $150K, but am I the only one who can't imagine anyone buying one?

 

$150K for a truck camper?? And then you have to spend another $40-$60k for a truck. That must be a typo because you can buy a top of the line motorhome on a MB or Ram chassis for less than that. If $150k is indeed the correct price then bankruptcy would be an expected result as the next expensive truck camper is way less than half that amount and likely with more features and options. 

 

A business plan that addresses the owners needs and wants but not potential customers needs and what they are likely willing to spend for a camper is guaranteed to fail.

[klahanie]

Pricing is on the mfr's website, which is still up. Perhaps to aid a possible asset buyer in continuing the brand.

 

As I recall ER went under when "overextend" with debit ("who knew the economy might turn down ?") and later resurfaced after some debt rinsing and revalued asset repurchasing. In that case it was by the orig owner. To be clear, I have no reason to think the same thing will be the case, or plan, for XP. But a continuation of sorts - perhaps flatdeck mfrg - does sometimes happen and that may or may not help the seller and creditors.

 

Agree it is a shame, and I feel it for the owner and his team. If there are such things as an easy businesses, custom mfrg is not one of them. I imagine XPC was a constant for the owner for most every waking moment. Props for him for taking an idea and carrying it forward to fruition. That is a success, not a failure. He, and the crew have much to be proud of. Marc and XPC left their mark and influenced an industry.

 

True, a business can take years to build up, and for some, years to reach to point of closing. If a business Idea is hopeless, it quickly dies without continued inputs of resources. That they were in production for 9ish years says a lot to me about the business; the product; and the efforts put into building and continuing both.

Edited by klahanie, 27 July 2019 - 09:00 PM.

[Essiebessie]

I only kept mine for 6 months and I’m very glad it’s behind me. Marc told me once, over a pitcher of beer, that he only wanted to establish the company via investors, then sell his bit and move on. I guess that he never got it to that point.

[alaskaguy]

This is very sad to hear but not super surprising. I grew suspicious of XP campers after they suddenly increased prices several times. Their prices basically doubled in the span of 5 years from around 75k to 150k. That kind of price increase is not sustainable.

 

It makes you wonder how companies like Earthroamer are doing? They invested tons of money into that big F650/750 based RV that is extremely niche.

 

I wonder if Marc would have been fine if he had stuck to the XP V1 and never done anything else. No V2, no cube or V4 or whatever no custom stuff. No lift kits or suspension mods. Heck, not even any flatbeds. Just stick to the V1 and nothing else, I think it would have worked better. I would really love to hear what Marc would do differently again.

 

 

[GroovyDad]

I also wonder if the fact that XP was in California contributed to the company's demise?  I have friends who have businesses in CA and they all have horror stories about its regulations, restrictions, high taxes, etc.  

[ckent323]

Auction listing for the assets of XP Camper

https://www.abcaucti...ess-opportunity

[BackBeyond]

XP's assets have been purchased by a group of investors who are passionate about rebuilding the XP business, including one or more owners of XP campers. I'm sure more details will be forthcoming.

[alaskaguy]

XP's assets have been purchased by a group of investors who are passionate about rebuilding the XP business, including one or more owners of XP campers. I'm sure more details will be forthcoming.

 

I wish them the absolute best of luck, but the odds are seriously stacked against them. The RV industry is really struggling right now. I bet sales are down across the board. It's no coincidence that XP Camper went under when it did. I watched as Marc raised prices to $150,000 for a V1 with flatbed, which was obviously the price he felt it needed to be for it to be profitable. I am going to guess there were not a lot of orders and deposits put down because if there were his loan would have been extended. Most of the V1 owners paid $70-80k for their V1 and flatbed. Would they have paid $150k? Can they find buyers who will pay $150k? If not, what then? Can they be profitable selling it at $80k? I hope they spoke to Marc before they bought the company and got a full lowdown. Again, best of luck. I really hope they succeed.

Edited by alaskaguy, 04 September 2019 - 08:54 AM.

[DanoT]

I wish them the absolute best of luck, but the odds are seriously stacked against them. The RV industry is really struggling right now. I bet sales are down across the board. It's no coincidence that XP Camper went under when it did. I watched as Marc raised prices to $150,000 for a V1 with flatbed, which was obviously the price he felt it needed to be for it to be profitable. I am going to guess there were not a lot of orders and deposits put down because if there were his loan would have been extended. Most of the V1 owners paid $70-80k for their V1 and flatbed. Would they have paid $150k? Can they find buyers who will pay $150k? If not, what then? Can they be profitable selling it at $80k? I hope they spoke to Marc before they bought the company and got a full lowdown. Again, best of luck. I really hope they succeed.

 

I was under the impression, until now, that the RV industry was booming with baby boomers reaching retirement age, millennials buying RVs for full timing instead of renting or buying houses or condos and a proliferation of MB, Ford Transit vans, Ram Promaster vans on the road.

[roverjohn]

I'm pretty sure the idea that a bunch of millennials are full timing in RV's and tiny houses is a myth propagated on youtube and instagram..

 

But, yeah, I hope the new owners somehow figure out a way to keep things alive for people willing to spend $100K or so on a truck camper. And, more importantly, that anyone who had a deposit on an XP is made whole even though you could argue that that sort of folk probably can afford a lost deposit or two.

Edited by roverjohn, 05 September 2019 - 03:25 PM.