Bargain hunters swarm Australian Off Road fire sale as debts top $14million
Hundreds of incomplete AOR campers, factory equipment and parts up for grabs in online liquidation auctionBargain hunters around Australia are bidding on unfinished 'vans, factory equipment, parts and company vehicles, as part of two 'liquidation' sales following the recent collapse of Queensland RV manufacturer Australian Off Road.
Argus Auctioneers and Valuers are taking online bids until November 10 on hundreds of items including a dozen partially completed AOR campers, and unused lithium batteries, inverters, diesel heaters, cookers, portable toilets, mattresses, wheels, tyres, and chassis and suspension components.
Also up for grabs is plant machinery and equipment from the AOR factory floor in Caloundra, including CNC routers, edge banders, panbrake folders, drill presses, and various tools and workbenches.
Argus Auctions director Glenn Screech told the Courier Mail that so far there's been strong interest from bidders around the country, including "current AOR owners, other manufacturers and consumers".
“The level of early interest is not surprising and likely reflects the following the brand has built over the last 26 years as being a premium product within the off-road sector," he said.
“For AOR owners in particular, it may be one of the last opportunities to source genuine parts and spares.”
It's also been reported that Australian Off Road had debts of more than $14.3m when the 26-year old Sunshine Coast manufacturer went into administration in September. The debts include $2.1m owed to staff, $8.56m (unsecured creditors), $1.49m (secured creditors) and $2.15m (statutory creditors).
An ASIC report lodged by administrator Nick Keramos blamed "inadequate cashflow and poor strategic management and record-keeping" for the company collapse", according to the Courier Mail article.
Creditors include two Chinese manufacturing firms responsible for supplying caravan bodies, sheet metal, and assembly services for the past decade.
The business suffered losses in four out of the last five years, culminating in a $1.6 million deficit between July 1 and September 15 this year alone.
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