The collapse of the tourism industry globally has not spared caravan and motorhome rental operator Apollo, which has made the decision to pause its business in the USA.
Because of the COVID-19 pandemic, Apollo has sold its fleet of vehicles in the USA and has placed its operations in the country into hibernation until the summer of 2021.
This story originally ran in Business News Australia.
Apollo says the USA has a liquid RV sales market, and as such it has been able to secure commitments from dealer partners to purchase most of its current fleet.
The Brisbane-based company says cash proceeds from the sale will exceed the $60.5 million in debt relating to the U.S. fleet.
