Buyers and workers in limbo after caravan companyâs collapse
Documents filed with the Australian Securities and Investments Commission on Monday show luxury caravan manufacturer Zone Manufacturing Pty Ltd, has gone into voluntary administration.
The company, which trades as Zone RV in Coolum Beach on the Sunshine Coast, is one of Queenslandâs largest manufacturers of recreational vehicles. It has about 250 employees, who reportedly learned the bad news as they arrived at work on Monday.
The collapse has also left caravan buyers in the lurch, including Ray and Barb Davidson. The Victorian couple said they arrived to pick up their van and were told on Monday morning to pay the $40,000 that was still owing.
They drove to the bank to transfer the money, then returned to Zone RV only to find the gates locked.
â[Iâm feeling] angry and let down ⌠itâs very disheartening,â Davidson told the ABC.
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âThey took me over to my van and said, âThere it is, finished. Youâll be out there getting the handover on Wednesday, just put the last payment in the account and weâll be fineâ.
âIt seems dishonest, but I donât know whether the staff here knew what was going on.â
A Sydney couple told the ABC they had paid $270,000 and were due to collect their caravan next week.
Elsewhere, supplier Robert Cooper said he recently spent $500,000 on equipment specifically for his contract with Zone RV.
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âItâs a massive downfall for my business,â he said.
According to Zone RVâs website, its âAustralian-made caravans are optimised for safety and weight, incorporating technology from the aeronautical and marine industries to ensure they can navigate even the toughest terrainsâ. The companyâs vans can cost more than $250,000.
Restructuring advisory firm Cor Cordis said its representatives, Rahul Goyal, Kate Conneely and Stephen Earel, had been appointed as Zone RVâs administrators.
âZone RV has built a strong reputation as a leading caravan manufacturer, renowned for its innovation, design excellence and commitment to comfort, while pioneering advancements in four-wheel technology,â Goyal said.
âOur immediate priority is to assess all viable options that maximise outcomes for all stakeholders while exploring avenues for a sustainable future for the brand.â
Cor Cordis said the company would continue trading âin a substantially reduced capacityâ while in administration. The administrators would work with management and workers to stabilise operations and explore restructuring opportunities.
Cor Cordis said it was conducting an urgent review of Zone RVâs financial and operational position.
A first meeting of creditors is scheduled for December 10.
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