It was announced late yesterday (Feb 16) that Bob Lee and Bryant Riley have purchased Country Coach from ailing National RV Holdings-Perris Valley, Ca. In fall of 2005, Riley and Lee tried a hostile take over of National only to have National RV's CEO to say the offer of $92 Million grossly undervalued National. Then, the NYSE de-valued National's stock. Last fall Bob Lee resigned as a board member from National, and then last month sold his 577,906 shares of National diviorcing himself completely.
For $38.5 million dollars Bob Lee bought CC back. National had been siphoning money off of profitable Country Coach to stay afloat. National has operated in the red for the last 17 out of 21 quarters.
It seems this happened quick enough to prevent long time CC employees from bailing. Good for everyone.