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Administrators of Sydney-based car buying platform Carconnect issued their report to creditors, advising of their intention to adjourn the forthcoming creditor meeting to allow more time to seek a sale of the business.
Administrators in control of the company, RSM Australia Partners Jonathon Colbran and Brett Lord advised creditors they have actively sought expressions of interest in the business and are currently evaluating offers received with further offers expected to be received before the meeting of creditors on 2 April 2026.
“Since our appointment, we’ve launched a comprehensive sale campaign to explore the sale of the business assets,” Mr Colbran said.
“We appreciate that everyone involved would like a speedy resolution to the situation and we are working as fast as practicable.
“It’s our current view that an adjournment of the next creditor meeting is necessary to allow us to finalise a sale process and confirm the best possible path forward for creditors and stakeholders.”
According to Administrator’s initial investigations, the company had in excess of $20 million in liabilities.
A total of 181 customers had paid deposits and a further 23 buyers had paid in full and were awaiting delivery of their vehicle. Approximately 300 customers had submitted an order for a new car but had not yet paid any deposit.
This is in addition to 161 dealerships who had released motor vehicles to purchasers but had not yet been paid.
Mr Colbran said, “We understand that the significant impact that this closure has had on all stakeholders and particularly customers and dealers affected, and we hope to achieve a positive outcome through the sale of business process.”
RSM Australia Partners Jonathon Colbran and Brett Lord were appointed as Joint and Several Voluntary Administrators on 26 February 2026.
RSM Australia has established dedicated contact points for all stakeholders. Interested parties who require further information can contact administrators on (03) 9286 8202 or email:
• Creditors: Creditors.CarConnect@rsm.com.au
• Dealerships: Dealerships.CarConnect@rsm.com.au
• Employees: Employees.CarConnect@rsm.com.au
• Customers: Customers.CarConnect@rsm.com.au
For any media enquiries, please contact:
Lisa Nixon
Managing Director
BBS Communications Group
Lnixon@bbscommunictions.com.au
Ph: 0411 557 434
Jess Whitby
Senior Account Manager
BBS Communication Group
jwhitby@bbscommunications.com.au
Ph: 0434 787 986
