Collapsed caravan company referred to ASIC amid $9 million debt
A creditors' meeting for Australian Off Road, which collapsed last week, reveals the caravan maker owes about $9 million.
Australian Off Road, a Queensland-based caravan manufacturer, has filed for administration after owing $9 million and leaving nearly 50 customers without their orders. The company, which had been operating for 26 years, suddenly shut down last month, leaving customers with deposits totaling more than $2 million and employees owed $2.16 million in wages and entitlements. Administrators have written to ASIC, the Australian Securities and Investments Commission, to investigate the company's conduct leading up to its collapse.
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