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Warehouse location 1015 W. Lorenza Pkwy Douglas, AZ 85607 |
Manufacturing facility Agua Prieta, Sonora, Mexico |
| Showroom/Retail Store: |
Paseo Mission de Loreto,
FN 162C Loreto Bay, Baja Sur • California - Mexico |
June 8, 2009
Dear Fellow Home Owner:
In light of the recent letter from Alvarez and Marsal, the comments on the various websites, I thought that it would be timely for me to offer some observations and comments.
First, I was here in Loreto for two weeks in April and have been here since May 19th. With the amount of construction going on in Agua Viva and numbers of custom homes, I was also blind sided by the news of cessation of operations. This is a dark hour. However, I firmly believe that over the next few days, weeks, and perhaps several months, a new plan with new ownership, leadership and a viable responsible financial plan will evolve. As a homeowner, I totally believe that the investment and involvement of the Governor, Fonatur and the Municipality is so great that it would be impossible for them to allow a failure of the project.
As for your furniture, we have steadily and continuously been working on every order be it Agua Viva, custom or the Posadas since your deposit was received. In fact, between Agua Viva and the Posadas, we have nearly 50 homes completely ready for delivery. Although our business has slowed considerably over the last 5 months, we have still received new orders and have added them to the construction schedule. Our original mission statement to have no homeowner wait for their furniture has come back to bite us financially, but that is our problem, not yours. Several months ago Luis and I made the decision to keep the factory operating and our valued employees working so that they could support their families. We see this current situation as a temporary delay of probably 3 months in the construction of your home. We will continue to finish all of our orders. If you decide that you are tired of waiting for your Loreto home and want your furniture delivered to your home in the U.S. or Canada, we will work with you to accomplish that. In the event, you would like to come visit your furniture at the factory in Agua Prieta, please call. We are not going anywhere and I totally believe that in a relatively short period of time, we will be smiling again and enjoying beautiful Loreto.
Best Regards,
Joel Sherman