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Stuff at the time coronavirus had an “unprecedented and devastating” impact on the business.
RNZ
New Zealanders have heeded the message to get out and see their backyard, with holiday hot spots even busier than usual. But the tourism industry is still struggling to fill the $6 billion hole left by international tourists. They kept the business operating for as long as it took for their staff to get other jobs, she said. Their closeness to retirement age, problems with getting new vehicles and having to wait until 2022 for the return of some sort of normality all played a part in the decision to wind up.
Geoff Mackley
A large fire at a campervan business near Auckland Airport broke out on September 3,2020, destroying an office and workshop. Video: Geoff Mackley Fire crews were called to THL Rentals on Richard Pearse Drive, in Māngere, around 5am on September 3, 2020. A fire at the 50 square metre building was “well involved” when crews arrived. Staff from nearby buildings, including a gym, had to be evacuated. In a fire investigation report, obtained under the Official Information Act, specialist fire investigators Robert Watson and Emma-Jane Goldsworthy were unable to determine the exact cause because of extensive damage, limiting entry to the building.
Photo: Unsplash / Hanson Lu
It reported a net loss of $1.8 million for the first half of the financial year, down 114 percent on the year earlier when it made $13m.
During the period the company worked hard to bring down debt levels - down from $175m in March last year, to $22m at the end of December.
This was done mostly though selling its vehicle fleet, with a 132 percent increase in global vehicle sales revenue compared to the year before, contributing to overall revenue down only 1 pct year-on-year.
Chief executive Grant Webster said that freed up cash and allowed the business more flexibility across its various markets.