I’ve heard a number of rumors concerning Casper, Wy. - based Teton Homes and that it is closing its RV division. According to the Casper Star Tribune newspaper that serves the company’s local area, Teton customers are being told by the company that it is out of the RV business. Read about it here.
The newspaper reports that the Massachusetts-based investment firm who owns a majority share of Teton Homes denys the company is shutting down.
A Casper dealer, Ray Stalkup of Stalkup’s RV Superstore says many of the Teton employees have contacted him looking to give him information and also to inquire about possible jobs.
Stalkup says Teton has lain off its warranty service department employees and that warranties on the company’s products are now void. He also says Teton laid off its dealer reps, sales coordinator and mechanical designer/engineer among others. Teton says it hasn’t laid anyone off when I recently called the company.
Stalkup says the company owes him an estimated $65,000 in rebates and he doubts he will ever see it. Other dealers may be in the same situation according to Stalkup.
I’ve personally have called Teton Homes numerous times and left messages with Tom Kim, who is reportedly now in charge of the company, but have not had any return phone calls.
One Teton employee who wished to remain anonymous confirmed that the company has received a “letter of intent to foreclose from Zion National Bank based out of Salt Lake City. He said that a rumor that the company will venture into producing oil field skid mounts is untrue, if a buyer is not found for that segment of the company’s business.
“I have Teton employees calling me. These people are standing in my office so when they tell the newspapers and journalists that they haven’t laid anybody off. It’s just not true,” Stalkup said. “I just wish they would be honest with us.”
I did briefly speak with minority interest holder, Tony Ingram, who told me that the company is in the middle of restructuring and that it will be a couple of weeks before Teton can respond.
I’m sure Tom Kim has a lot on his mind but my experience, if you want answers, he’s not going to return your call. Dealers and RV customers may be out of luck when it comes to parts and warranty. So I guess we’ll tag the company as “M.I.A.” until further notice but most likely, it’s closing its doors.