A luxury Australian caravan manufacturer owes about $40 million to creditors after its sudden collapse last week.
Zone Manufacturing Pty Ltd plunged into administration last week, leaving about 240 staff unemployed and 180 customers in limbo.
The Sunshine Coast-based company built premium caravans under the Zone RV brand and continued taking customers’ money until the final hours before it shut down.
At the first creditors’ online meeting on Wednesday, administrators Cor Cordis revealed the staggering extent of Zone RV’s woes.
Customers are short about $18 million, suppliers are owed up to $20 million, and employee entitlements are $4 million, while taxpayers are on the hook for $1.4 million from unpaid taxes.
A newly installed…