One of Australia’s largest campervan and motorhome rental companies has gone into receivership, according to a report on ABC News Online.
Cairns-based NQ Australia Rentals was established 17 years ago and hires out more than 200 vehicles from offices all across Australia.
The company is now insolvent and accountancy firm PPB Business Reconstruction Specialists has been appointed as the receiver.
PPB says $4.5 million of investments into subsidiary company Matilda Motor Homes is the cause of the financial trouble.
The plan was to have Matilda manufacture motorhomes and then hire them out through NQ Rentals.
Matilda has been placed into voluntary administration.
The receivers say it is business as usual for customers and they intend to trade on and sell the company as a going concern.
They do not expect to have to cut any jobs before a sale.