Cor Cordis appointed Voluntary Administrators of Harvey Technology Pty Ltd and Outback HQ Pty Ltd, trading as Track Trailer
Barry Wight and Rachel Burdett of restructuring advisory firm Cor Cordis have been appointed Voluntary Administrators of Harvey Technology Pty Ltd and Outback HQ Pty Ltd, trading as Track Trailer, on Thursday, 6 June 2024.
The Administrators stated, “We’ve commenced an urgent review of Track Trailer’s financial position. We understand there are parties looking to put forward a restructuring plan while we continue to trade the business. We’ve set up an email address for customers, employees, and creditors. We will regularly update all stakeholders as we work through the voluntary administration process”.
The current Track Trailer business has a 25-year history commencing with the iconic Tvan winning the Caravan Industry Association’s Camper Trailer of the Millennium in 2000 and routinely winning awards ever since. Now in its 5th generation, the Tvan epitomises the TRACK philosophy of continuous reinvention and development, so that with its sibling TRACK, Trakmaster, and Pioneer models, it still sets the benchmark in its class.
However, due to the current economic challenges, Track Trailer has decided to appoint voluntary administrators to help restructure the business and transition the business into a stronger financial position.
TRACK director Gerard Waldron said, “The Australian RV market has significantly declined over the past 12 months due to cost-of-living pressures and its main consumer group increasingly opting for overseas travel in 2024. I have not seen worse RV market conditions in over 25 years. Despite our attempts to reduce costs in response to declining sales, the economic conditions have compelled me to decide to appoint Administrators to explore a restructure.”
Mr. Waldron said, “It will be business as usual, with everything being done to minimise disruptions to our customers, and we thank them for their understanding. Lastly, while the immediate future holds challenges, I believe the restructuring process will allow the business to continue growing when market conditions improve.”
Media enquiries
Lidia Bufalino, National Marketing Director,
Email: lbufalino@corcordis.com.au
Stakeholder questions
For further information regarding the Administration of Harvey Technology Pty Ltd and Outback HQ Pty Ltd, trading as Track Trailer, please contact
Email: TRACK@corcordis.com.au
