DALLAS, Oct. 26, 2009 (GLOBE NEWSWIRE) -- BeaconEquity.com announces an investment report featuring manufactured housing company Champion Enterprises Inc. (NYSE:CHB). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The investment report on Champion Enterprises Inc. (NYSE:CHB) should be of particular interest to housing companies: Fleetwood Enterprises Inc. (Pink Sheets:FLTWQ), Palm Harbor Homes Inc. (Nasdaq:PHHM) and Deer Valley Corp. (OTCBB:DVLY).
It is available at: http://www.beaconequity.com/i/CHB
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Champion Enterprises Inc. (CHB) is a factory-built housing seller in the United States and Canada, as well as the maker of steel-framed modular buildings for the United Kingdom market. As of July, the Company reported 22 homebuilding facilities in 13 states and three Canadian provinces, and has more than 1,400 independent sales centers in the United States and western Canada as well as 15 sales offices in California.
In the report, the analyst notes:
"The Company operates in an industry in decline. The United States, Canada and UK manufactured homes sales have been dropping for the past 10 years, accelerating severely in decline during the first decisive break in the credit crisis and housing bubble in 2008. The result was a profound effect on the Company's creditworthiness.
"On October 13, the Company announced that its creditors agreed to forgo taking action following the failure of the Company to make certain payments. The Company's filings with the Securities and Exchange Commission (SEC) reveal that its lenders will not accelerate the maturity of loan agreement outstanding, which called for an installment of $3.4 million comprised of principal, interest and fees that the Company did not pay."
To read the entire report visit: http://www.beaconequity.com/i/CHB
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