25 years of excellence is in jeopardy with Track Trailer going into voluntary administration. According to a statement on the iconic off-road camper manufacturer’s website, the business has entered into voluntary administration as of 6th June 2024, with Barry Wight and Rachel Burdett of restructuring advisory firm Cor Cordis appointed as Voluntary Administrators.
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.”
In the face of the current economic challenges, Track Trailer has opted for voluntary administration to assist in restructuring and improving its financial standing. However, it is still ‘business as usual’ with Track’s Marketing Manager, Lloyd Waldron, pointing out that the company holds stock ready to be sold, and with the money handled by administration, there is peace of mind you’ll get your RV.
Track Trailer, a business with a 25-year history, began with the iconic Tvan, which won the Caravan Industry Association’s Camper Trailer of the Millennium in 2000 and has consistently received awards since. Now in its 5th generation, the Tvan exemplifies the TRACK philosophy of continuous reinvention and development. Alongside its sibling models, TRACK, Trakmaster and Pioneer, it continues to set industry benchmarks.
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 customer 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 appoint Administrators to explore a restructure.”
Mr. Waldron said, “For the immediate future it is business as usual, with the team working hard to minimise disruptions, we thank our customers 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.”
