In a statement issued today from Ultimate Campers regarding the company's appointment of an Administrator they advise that Ultimate Campers are now in Voluntary Administration
Off Road Camping Accessories Pty Limited t/a Ultimate Campers was placed into Voluntary Administration today (10 October 2018) with Tim Heesh of TPH Advisory being the Administrator.
On a positive note the business has been placed into a 'stand still' position operationally to give it the best prospects of finding suitable investors for the business with the primary focus of the Administrators to seek offers from suitable interested parties.
The Administrators have not as yet had an opportunity to investigate the complete financial position or what lead to the company’s financial distress however that will be part of the Voluntary Administration program moving forward and creditors will be informed as the time table unfolds. The company is a well-established iconic and highly-awarded Australian manufacturer of off-road camper trailers operating from a small regional community in NSW. It has until recently employed 50 people and produced between 100 to 120 new camper trailers per annum. It is regarded as a top-end off road camper. The company has Facebook following of over 4,000 and 3,500 on Instagram. The company’s website attracts more than 100,000 unique visitors per annum. In June this year the company was among the list of successful applicants offered funding under the Regional Jobs and Investment Packages, South Coast, New South Wales region for $758,134 to go towards their Composite Camper and Rapid Adhesive Assembly Process estimated at $1,516,268 The grant for the project was awarded to help develop cost competitive curved composite panels, and design and manufacture a high quality, light weight entry level compact camper using the new types of composite panels for rapid assembly. The project would see the manufacturing process fully automated, simplified and scalable to ensure the new compact composite camper will be cost competitive with international competitors.
VIDEO: Lets step back in time....... one of the first corporate videos Ultimate Campers filmed back in 2003 with the crew from Bright Ideas.. "Very little has changed with the Ultimate off-road camper trailer in 15 years. Why? Because we ran out of ideas? Nah. We just got it pretty much spot on first time around!"
As with any Voluntary Administration there will be some financial loss for a variety of creditors and customers and the Voluntary Administration program with deal with all parties whilst trying to realise a best outcome for the business.
The dates for creditors meetings will be posted on the company's website in the coming days.