Snap crackles then pops: Courier company on market


Administrators look for buyer of Sydney-based Snap Couriers while company continues to trade out of debt

Snap crackles then pops: Courier company on market
Snap crackles then pops: Courier company on market
By Jason Whittaker | September 9, 2009

Administrators are looking for a buyer for Sydney-based Snap Courier Services while the company continues to trade out of debt.

The business was placed into administration late last month with debts to drivers and its family owners looking to move on.

Owner Herman Wogowitsch passed away from cancer earlier this year and widow Judy took over the business.

But Michael Jones of Jones Partners says she was unable to secure a new buyer and brought administrators in.

"She kept it together for a while but just ran out of puff," Jones tells ATN.

Drivers are being paid while the company is under administrator but are still owed for weeks leading up to the appointment.

But Jones says he’s had "terrific" support from all staff in trying to secure the future of the business.

A creditors report will be sent out next week but debt repayments will depend on how successful the sale process is, he says.

Brokers have three potential buyers for the business, Jones says, and hope to wrap up a sale "reasonably quickly".

Granville-based Snap employs four permanent staff and about a dozen drivers.

Its website boasts of providing Sydney’s "foremost courier service" with a "high level of customer retention".

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