Australian caravan group Network RV collapses with $30m debt
Network RV, owner of Vancraft, Nextgen, and Victory brands along with three Fair Dinkum Caravan dealerships, has entered administration. The company o...
Network RV, owner of Vancraft, Nextgen, and Victory brands along with three Fair Dinkum Caravan dealerships, has entered administration. The company owes $30 million, including $10 million to a financier, $12 million to trade creditors, $3 million to the ATO, and $1.5 million in employee entitlements. Administrator David Stimpson of SV Partners cited a drop in caravan demand due to economic conditions and global unrest as key factors. This marks the fifth major caravan producer to close in the past two weeks.