Foretravel Northwest, the luxury recreational-vehicle dealership that moved from Coeur dAlene to a new $2.5 million complex at Liberty Lake three years ago, could have a new owner soon, says General Manager Terry Solinsky.
An undisclosed prospective buyer is negotiating to acquire the dealerships assets, and a sale is pending, Solinsky says.
Were in the process of developing a proposal, and I would estimate were about 90 percent there, he says, adding that he expects the negotiations to be successful.
Foretravel Northwest is owned by Foretravel Inc., a Texas-based RV manufacturer. The parent company announced recently that it plans to divest its factory-owned stores and convert to an independent-dealer network as part of a new strategy aimed at increasing its national exposure.
Until recently, it operated six dealerships, at Liberty Lake; Escondido, Calif.; Kodak, Tenn.; San Antonio, Fla.; Denton, Texas; and Nacogdoches, Texas, where its headquarters and factory are located. Last week, it closed its under-performing California dealership, and it has no immediate plans to replace it, Solinsky says. Buyers are being sought for the other dealerships, he says.
Solinsky says he personally has been devoting a lot of time to finding, among the dealerships mostly wealthy customers, potential investors who might have an interest in buying the Liberty Lake dealership. Im driven to do this to maintain our staff, the quality of our staff, he says.
Even if the current negotiations were to fail, though, he says he expects that another buyer would be found. Of the possibility that Foretravel otherwise might choose to shut down the dealership, he says, That hasnt been verbalized, but I dont really see that happening.
Foretravel Northwest sells new RVs mostly in the $300,000-to-$650,000 price range, up to 42 feet in length, and serves a market area that includes 14 states and part of Canada. Along with the Foretravel brand, it sells new Itasca by Winnebago and Born Free motor homes and also used RVs. Its work force ranges seasonally between about 18 and 24 employees, Solinsky says.
Foretravel Northwest had operated in Coeur dAlene for about 16 years until moving in June 2000 to the Liberty Lake facility, just west of the former Land Rover of Spokane dealership. Its facility there, located on a five-acre site, includes a 17,000-square-foot sales, parts, and service building, plus a large paved and landscaped area for displaying RVs.
Solinsky says the dealership has met its expectations, its goals there in terms of revenue, although there has been a stutter that really stems from the 9/11 issue and the stock-market decline.