Kimberley Kampers goes into Liquidation

Patriot

Administrator
#1
This is quite the tragedy. I thought that Kimberley had a good reputation with the Kampers that they made, but they have gone into liquidation.

A big tragedy for the 50 workers and it will hit the town of Ballina pretty hard. They went into voluntary administration in late 2017, but I thought that the new managing director had injected significant capital into the business.
The Unimog Kampers looked awesome.

 
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Big Rig

4x4 Earth Contributer
#2
It IS a tragedy. We were just tossing up whether to make our second biggest outlay and buy one of their Kimberly Karavans. Lucky we didn't place an order.
Although, perhaps there may be some discounted floor stock somewhere around the country at one of the dealers.
 

typhoeus

Well-Known Member
#4
Speaking of Aussie icons going, Dick Smith foods is closing too. I liked the breakfast cereal. So now Aus exports all the best food and imports shit .
 

Sean Logue

Active Member
#6
The owners would have known for months leading up to that liquidation. They crapped on there workers not giving them a chance to go find work else where if I was working there I would be back that night taking a few camper trailers.
 

Sean Logue

Active Member
#8
Yeah and maybe some of the people who got shit on from not getting a chance to find another job may lose there house. But that’s ok hey ...
 

Albynsw

Well-Known Member
#9
The owners would have known for months leading up to that liquidation. They crapped on there workers not giving them a chance to go find work else where if I was working there I would be back that night taking a few camper trailers.
Mate it doesn’t work like that, they were already in voluntarily administation which means the owners of the business have stepped aside for a third party to run it with the view of trading out of the situation, that is the right thing to do.
There would most likely have been a board meeting with the directors and financiers with the latest current state of affairs on the table and a decision would of been made by one or all of the parties ( perhaps the bank) to pull the pin and shut it down.
Your call for the employees to go and steal from them is a poor one, yes they have lost their job but everyone is a loser in this situation, the owners could well have lost their house as well
 

Hoyks

Well-Known Member
#11
With a situation like that, when shit is about to hit the fan, it kinda gathers speed rather quickly, Ive found.
Yes, when you go from getting parts on 60 and 90 day accounts to suppliers being very wary and wanting the $$ before they even drop the gear off. If you don't have the $$ to pay a key supplier, then the whole production line can grind to a halt.
Having to come up with the cash up front to keep everything moving can be next to impossible, and then if you have built the product you have to ship it out and get paid for it or you are still in the financial hole, it makes it very hard to trade out of the situation and you need a very understanding bank. Once the administrators are brought in it isn't often that the company trades its way out.

I'm not up on corporate law, but splitting the company into manufacturing arm and the bit that owns all the IP is a bit suss as I'd imagine that the IP is probably the only real asset worth having.
EDIT: Reading an article posted elsewhere from Northern Star (27july18), it looks like the new partner they got in really screwed the company. Tearing up dealer agreements with some, others quitting because they refused to deal with him and discontinuing the base model which would probably been a good seller. Basically cutting the legs out from under the company.

As for the midnight reallocation of equipment; hardly the perfect crime, but at least they would be guaranteed 3 hots and a cot.
 
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monk2

Active Member
#13
been a couple caravan places in Vic have also closed there doors These is also a number on caravans etc coming in from over sea's in pieces and getting assembled here not to sure of the makes and not going to name them either but a good friend of mine was telling me not good news for the industry at all
 

phs

Well-Known Member
#14
The owners would have known for months leading up to that liquidation. They crapped on there workers not giving them a chance to go find work else where if I was working there I would be back that night taking a few camper trailers.
It would be interesting to know if the owners or head management have other company's
 

Big Rig

4x4 Earth Contributer
#15
Well I've just learnt a lot reading this thread. Some really good comments. I AM quite glad that I didn't put a deposit down the other week in Lismore
 
#16
To be honest there's that many camper/ caravan companies out there i don't know how they all manage to be in business. It seems like a highly competitive market with a small fraction of the population interested in buying one.
 

rogerazz

4x4 Earth Contributer
#17
The advent of 4wd and comfort camping has attracted thousands of city dwellers to venture out and discover Australia :eek:.
It is a lucrative market.
Each year heaps of manufacturers ( if you can call them that) see the potential. Many import and assemble, many have cabinet making skills ( like shop front fitters, a tough market) and it does not require a lot of knowledge and experience to build caravans and camper trailers, so some of these people gravitate to the shows. I have spoken to many manufacturers who were at their first "Show" and do not see their brand again the following year.
Like any business you have to have good marketing, good capital investment, a decent cash flow, competitive pricing, good management and a well built product. Many manufacturers have their own personal building skills and that's about it.
I believe over 60% of start up businesses fail in the first four years.
 

Chatty

Well-Known Member
#18
Well I've just learnt a lot reading this thread. Some really good comments. I AM quite glad that I didn't put a deposit down the other week in Lismore
I was amazed to see them in Lismore the other week, as the stories about their liquidity (or lack of it) have been around since last year.
 

Chatty

Well-Known Member
#19
I always thought that KK was a flawed business model - their product was priced as a top-shelf premium product in a market that is typically very price driven. A top shelf priced [product can survive in this market if you are prepared to manufacture a few very bespoke very expensive vans each year, but KK wanted to be "mainstream" (that is, making lots of vans) but with a premium price.

I have looked at their vans a couple of times and simply couldn't see anything that justified the eye watering price ticket.
 
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