28 October 2023
The world’s biggest kitplane manufacturer Van’s Aircraft is facing “serious cash flow issues”, according to company founder Dick VanGrunsven, “which must be addressed quickly to ensure ongoing operations.”
“We are confident we can work through this situation, but some changes are required,” continued VanGrunsven.
A statement from Van’s explained, “A combination of significant events over a relatively short period of time has increased costs, doubled normal inventory levels, slowed deliveries, and strained our cash flow to the breaking point.
“To help us with the needed financial analysis, planning, and operational improvements, we’ve assembled a small team of experienced advisors to assist us.
“Starting today through mid-November, Van’s will be focused on assessing the internal changes necessary to address these issues. This means some of the typical day-to-day operations at Van’s will be affected while our team develops plans to correct the problem.
“During this period, shipments will be delayed, kit orders will not be processed, and refunds will not be issued. We will be unable to conduct factory tours and demo flights.”
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