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Rahul Goyal and Craig Shepard of KordaMentha Restructuring have been appointed Administrators of Thirvale Pty Limited (Administrators Appointed) in its own capacity and as trustee for the Seranth Trust trading as Crusader Caravans (‘Crusader Caravans’).
Crusader Caravans is a family owned and operated business that designs and manufactures caravans from at Epping in Melbourne. Sergio Valentino established the business over 10 years and remains with the business today.
The Administrators have full control of the day-to-day operations of Crusader Caravans and will continue to trade as usual while expressions of interest are sought for the sale of the business.
Mr Goyal said that the normal production schedule is being followed to ensure that all the caravans are completed on time and to the company’s traditional high standards. Mr Goyal said that the business has a strong pipeline of work. Crusader Caravans is honouring approved warranty claims and will provide a manufacturer’s warranty for any new caravans sold.
The Administrators are seeking urgent expressions of interest to find a purchaser for the business. Mr Goyal is confident that the business will be sold as a going concern as Crusader Caravans is an iconic brand that builds quality caravans. Mr Goyal said the dealer network, suppliers and employees are all very supportive of the business. Interested parties are strongly encouraged to KordaMentha Restructuring as soon as possible.
Any customer that is looking to purchase a new caravan should place their order. In the unlikely event that Crusader Caravans is unable to deliver a caravan, the dealer will return their deposit.
Crusader currently employs approximately 60 people and they are being advised of developments while an assessment of the business continues and expressions of interest are being sought.
The first meeting of creditors has been scheduled for Thursday 24 March 2016 and will be held in Melbourne.
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