About 240 employees of a Sunshine Coast-based caravan manufacturer have been made redundant after the company went into administration.
An update from administrators Cor Cordis said Zone RV, which is headquartered at Coolum, had about $40 million in debts.
This includes customer claims of an estimated $18 million; employee entitlements estimated at $4 million; and supplier claims currently estimated between $15 million and $20 million range.
A media release from the restructuring advisory firm said about 40 employees would remain to provide support, care and maintenance.
“Work is progressing to stocktake assets, assess leased and owned property, and understand operational workflows, work-in-progress and the status of customer builds,” it said.
“PPSR (Personal Property Securities Register) creditors are also being contacted individually to validate their claims and security against Zone RV.”
The update said sale options were being considered.
“The administrators have commenced exploring sale and recapitalisation options, both whole-of-business and asset-by-asset, to maximise potential recoveries,” it said.
More than 250 stakeholders participated in a first creditors’ meeting on Wednesday.
The administrators will issue their report to creditors in January 2026, ahead of the second meeting of creditors.
“This report will outline the administrators’ investigations into Zone RV and provide the administrators’ recommendations regarding the future of Zone RV,” the media release said.
The administrators also reiterated their commitment to transparent communication and to pursuing the most commercially viable outcome for all stakeholders.
They said they would provide a further update on customer orders next week.
