Liquidation
Australian caravan manufacturer Maverick Campers (legal entity Fetch Business Solutions) was liquidated on 1 October after negotiations with a financier over a $500,000 debt collapsed. Liquidators from Jirsch Sutherland estimate the company's debt at up to $6 million.
Impact
The financier made a decision to repossess all caravans across Australia, creating uncertainty for 72 orders worth $5 million. The company operated in four states through sales centres in Prospect, Caboolture, Campbellfield and Wangara.
This is the second bankruptcy in Australia's caravan industry in a few weeks.