Norcold Files for Bankruptcy, Seeks Asset Sale

Norcold, a renowned RV refrigerator manufacturer, files for Chapter Eleven bankruptcy, aiming to sell its business and liquidate assets. Facing liabilities of $100 million to $500 million, Norcold, founded in 1959, shifted from manufacturing to distribution after a product recall and costly lawsuits. A technological shift in 2018 and a 60% sales decline further impacted the company, leading to a plant closure and reliance on third-party manufacturers. Norcold plans to sell its assets to Dave Carter and Associates for $13 million. DNN | The Daily News Now! The world’s first global local news network. Every city. Every story. AI powered. Hosted on Acast. See acast.com/privacy for more information.