After last week Scott’s announced it was in voluntary administration, three transport giants are closing in on buying the liquidated business
As the federal government lamented the voluntary administration of Scott’s Refrigerated Logistics, bids began to land for the transport giant.
The federal government announced over the weekend that it’s disappointed about Scott’s being liquidated and extended its thoughts to the workers and their families.
“We’ve been following the situation closely in recent days and are grateful to those supermarkets who have been working constructively with unions and administrators to help minimise the impacts of this situation on our cold supply chain,” the federal government says.
“We urge those parties who remain involved in the liquidation to work together quickly to reach an agreement that keeps trucks on the road and food on the shelves.”
While this happened, the Australian Financial Review reported that potential buyers began circling the company.
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On Thursday, the AFR said KordaMentha, who is driving the auction of the company, brought forward indicative bids, with Linfox, Toll Global and Lindsay Australia all in the data room for the business.
After the Anchorage Capital Partners-owned company called in administrators and receivers, KordaMentha has been tasked with finding a new owner for the company and performing a turnaround.
The industry will now await who will take over the logistics and transport giant, with Linfox, Toll Global and Lindsay Australia all circling.