Waste and recycling equipment firm in administration
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Little long-term clarity on Gunns transport contracts
The longer term fate of transport work contracted by timber firm Gunns is no clearer, despite the appointment of PPB Advisory as administrators and KordaMentha as receivers and managers.
But KordaMentha Partner Mark Korda, who now controls the group with fellow Parner Bryan Webster, has revealed a three-point plan for the short term.
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Future unclear for Gunns contractors
Forestry industry turmoil in Tasmania has finally sent timber giant Gunns into voluntary administration and left its transport contractors with an uncertain future, transport experts say.
Gunns told the Australian Securities Exchange this morning that its lenders – reportedly local and northern hemisphere banks − had put a halt to restructuring plans, which had forced the company to stop trading and seek and administrator.
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Gunns told the Australian Securities Exchange this morning that its lenders – reportedly local and northern hemisphere banks − had put a halt to restructuring plans, which had forced the company to stop trading and seek and administrator.
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