Millions-worth auctioned off from former RV manufacturer
Published Monday, July 15, 2019 2:44PM EDT
Last Updated Tuesday, July 16, 2019 4:50PM EDT
What’s left of one of the biggest auto sector employers in Waterloo Region is now on the auction block.
Hundreds of items from Erwin Hymer Group North America are up for sale, including about a dozen partly-finished RVs.
Several hundred people were at the facility on Reuter Drive in Cambridge on Monday to scope out the one-of-a-kind auction before it begins.
The items that are up for grabs are valued at a combined $4 million, with the RVs themselves valued at well over $100,000 apiece.
There are also camping trailers up for auction, but they and the RVs are small-ticket items.
A number of major items include rooms to paint panels and even the jacks that they use to hoist the RVs.
Erwin Hymer NA went into receivership back in February, owing its creditors roughly $275 million. This auction was ordered through the receivership process.
About 900 people lost their jobs when the facility closed.
Since, French RV maker Rapido signed an agreement to purchase the defunct manufacturer in May, with it becoming officially court-approved in June.
Rapido is expected to hire up to 130 employees, meaning it will likely be a much smaller operation, at least initially, than before.
The auction goes live on Tuesday and runs until Saturday.