Automotive, Erwin Hymer Group North America goes into receivership and brings revenue to its knees

According to Canadian news outlets, the news that broke regarding the receivership of Erwyn Hymer Group’s North American division was a surprise for everyone. The company, division of the European caravans’ group, fired 100 employees at the half of January 2019, all while news broke of alleged financial irregularities by the group’s management (which led to the firing of many of them). News of the cessation of operations broke in February, and the 850 employees working there were sent home. According to CTV news, Erwin Hymer Group North America has debts for 273 million USD, distributed among 950 creditors, most of which are businesses with localized revenue streams. Among those is KW Leather Products, manufacturing business that supplied over 300 types of leather products to Erwyn Hymer, which owes KW over 1.2 million USD: KW has had to fire its employees as well. Erwin Hymer Group (2.5 billion USD revenue in 2017/2018), signed an agreement with Thor Industries on February 1st, on which it agreed to sell ownership. The North American division isn’t, and wont, be a part of the deal.

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