Caravan manufacturer Zone RV's $40 million creditor debt revealed after collapse

ABC NEWS (Australia)

A Sunshine Coast caravan manufacturer that collapsed into administration last week owes almost $50 million dollars to customers and suppliers. The first creditors' meeting for Zone RV was held today with customers still unclear if they'll ever receive their vans.

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00:00Their dream retirement, so close yet so far.

00:06This is the luxury van Sarah and Magnus Charlson have fully paid for.

00:10The Gold Coast couple had put their home and business on the market and were weeks away

00:15from hitting the road when Zone RV entered voluntary administration last week.

00:20Limbo is a horrible place to be and that's where us and a lot of other people have been

00:25in the last week.

00:27They were among more than 200 customers, suppliers and employees anxiously watching

00:32the first creditors meeting, desperately hoping for answers.

00:36Customers are owed about $18 million, suppliers between $15 and $20 million, employees $4 million

00:43and the tax office $1.4 million.

00:45We realised that it was far worse than we could possibly have imagined.

00:49Sole company director and co-founder David Bigger is working with administrators to find

00:54a resolution with creditors told there are several potential buyers watching from across

00:59the ditch.

01:00New Zealand couple Alexis and Cade Thornton who were meant to be embarking on the trip of

01:04a lifetime with their young family.

01:06Everyone where we live in Wanaka knows that we're going so a lot of people reaching out

01:12here saying, what's happening?

01:13What's happening?

01:14What's happening?

01:15A second meeting will be held next month where creditors will vote on whether the company

01:18can be salvaged, otherwise the only option is to liquidate, which would officially be the

01:23end of the road for Zone RV.

01:26Administrators say customers who have already paid for vans that are complete are likely to

01:30receive them.

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