Odyssey Automotive Specialty Files For Chapter 7

[x635 4,066]

Odyssey Automotive Specialty, a popular longtime high end emergency and government vehicle conversion company based in Wharton, NJ, has filed for Chapter 7 bankruptcy.

At one time, they produced the (smaller) NYPD REP ESU trucks, and more recently the first of the FDNY GMC Sierra Battalion Chief cars.

They were bought out last year by another company. Don't know how this will affect vehicles that are currently in process.

http://www.odysseysv.com/

[Anesti 329]

Odyssey Automotive Specialty, a popular longtime high end emergency and government vehicle conversion company based in Wharton, NJ, has filed for Chapter 7 bankruptcy.

At one time, they produced the (smaller) NYPD REP ESU trucks, and more recently the first of the FDNY GMC Sierra Battalion Chief cars.

They were bought out last year by another company. Don't know how this will affect vehicles that are currently in process.

http://www.odysseysv.com/

I know fdny ordred 4 new fire Marshall units from them.

[SageVigiles 1,194]

Lots of homeland security grant money drying up in the past few years. Not surprising that a company in that sector is having trouble staying afloat.

[Bnechis 3,961]

Lots of homeland security grant money drying up in the past few years. Not surprising that a company in that sector is having trouble staying afloat.

I suspect this had very little to do with it. They had been around for 40 years, long before homeland security. Their biggest sales were for chiefs cars and EMS fly cars, which were rarely funded thru HS.

This is a sector that has huge cash flow issues, they have to layout the cash for the vehicle, all of the components and the labor and then they don't get paid until 30 days after delivery (most governmental contracts). And the margins are not high.

[firebuff88 4]

Well looks like whatever is left of Odyssey is going to be auctioned off, vehicles, IP, website, consoles. Basically anything left in the building is up for auction.

http://www.ajwillnerauctions.com/auctions/odyssey-specialty-vehicles