Zone RV in administration
Shock collapse of 10-year old Queensland manufacturer of upmarket composite caravansThe Sunshine Coast's Zone RV which builds some of Australia's most desirable off-road caravans and hybrids, has shut down operations and gone into voluntary administration.
The innovative Coolum, Queensland-based manufacturer this week appointed Rahul Goyal, Catherine Margaret Conneely and Stephen Earel of restructuring advisory firm Cor Cordis as voluntary administrators of Zone Manufacturing Pty Ltd and Zone RV Holdings Pty Ltd, according to documents lodged with ASIC.
It's believed Zone RV employed around 250 workers and produced hundreds of 'vans annually at its two Queensland sites. The upmarket composite caravan specialist will carry on operations in a "substantially reduced capacity" while administrators attempt to rescue the business.
"Our immediate priority is to assess all viable options that maximise outcomes for all stakeholders while exploring avenues for a sustainable future for the brand," Rahul Goyal from Cor Cordis said.
A virtual meeting of creditors, including suppliers and individuals who had placed deposits on undelivered caravans, will be held next week (December 10).
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Rise and fall
Zone RV kicked off in 2014 as an off-shoot of Cure Composites, which at the time specialised in the manufacture of composite panels for truck bodies and trailers as well as high-end boats.
It started with flat-pack kits before focussing on a line-up of turn-key all composite hybrids and full-size luxury 'vans. Zone's current four-model range which includes the latest Expedition Hardtop starts at around $170,000.
In recent years Zone invested $7.5 million in a 5000sqm facility in the Coolum Eco Industrial Park, while the company was awarded a $1.16 million Queensland government grant that went towards the purchase of Australia's largest 3D printer.
Zone RV currently has one dealer in NSW, Off Grid Outfitters, and also had a Melbourne dealer for a short time.
Zone's longstanding 'hand-over' arrangement at the Hangar O glamping facility in Gunalda, Queensland also ended earlier this year.
Caravancampingsales was unable to contact Zone RV for comment.
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