Australian campervan company calls in receivers

One of Australia's largest campervan and motorhome rental companies, NQ Australia Rentals Pty Ltd, has gone into receivership.

Receiver and manager Stephen Parbery of PPB Business Reconstruction Specialists said he wanted the company to continue to trade and he will sell the business as a going concern.

"As far as those people driving throughout Australia in rented campervans it is business as usual," he said.

NQ Rentals was established 17 years ago and currently has 210 vehicles.

It is based in Cairns and has offices in all mainland state capitals as well as Townsville, Darwin and Alice Springs.

NQ Rentals has won numerous awards, including 'Best Budget Motor home Year 2000' and focuses on the backpacker market.

Mr Parbery blamed the insolvency on an investment by NQ Rentals in its wholly owned subsidiary, Matilda Motor Homes Pty Ltd.

He said Matilda was established to manufacture motor homes, which would then be leased to the public through the parent company.

NQ Rentals' directors invested around $4.5 million in Matilda from its inception in 1996.

Matilda is now insolvent and voluntary administrators have been appointed.

Mr Parbery said directors had downsized staff numbers in recent months and he anticipated no further redundancies prior to the sale.

"NQ Rentals is essentially an excellent firm with a good product and a sound reputation," he said.

"We expect there will be substantial interest in the sale."

- AAP