Truck Camper Adventure has learned that Hallmark RV filed for Chapter 11 Bankruptcy on March 9, 2023.
For those who are unfamiliar with a Chapter 11 Bankruptcy, such cases are referred to as a “reorganization” bankruptcy. According to the uscourts.gov website, “usually, the debtor remains ‘in possession,’ has the powers and duties of a trustee, may continue to operate its business, and may, with court approval, borrow new money. A plan of reorganization is proposed, creditors whose rights are affected may vote on the plan, and the plan may be confirmed by the court if it gets the required votes and satisfies certain legal requirements.”
So what exactly happened to Hallmark? We spoke with Matt Ward, Hallmark Director of Marketing, to learn more. Due to legalities, we cannot divulge the details of why this filing was necessary, but we can say that the Fort Lupton, Colorado-based company will continue to deliver campers on schedule as it resolves a lawsuit with C.F. Maier Composites, the company that used to manufacture all fiberglass parts for Hallmark. As a matter of fact, Hallmark is now working with another company to manufacture new molds.
“Yeah, my brother and I personally built these molds back in 2006 and were able to start reproducing them again with the help from some old friends. Nearly three-quarters of all molds are done,” Matt said.
It’s unfortunate that this has happened to the venerable, 54-year-old company, yet we can say that it’s likely that the company will come out of it stronger as it works with this new company to get things back on track. Matt explained that they have a long-lasting relationship with this new company having worked with them for over 40 years.
So what does this mean to customers? Practically, nothing. Hallmark RV is fully operational and is fulfilling all customer orders as it moves forward with the legalities of the Chapter 11 proceedings and the pending lawsuit.
What are our thoughts on the matter? We are optimistic that things will work out. As a matter of fact Apple, General Motors, Texaco, Chrysler, Marvel, Outfitter RV, and EarthRoamer all recovered from Chapter 11 proceedings to become fully profitable companies. Knowing how savvy the Ward’s are when it comes to business, we are optimistic that Hallmark can recover too.