The board of directors of AL Logistics Pty Ltd has appointed partners from Ferrier Hodgson as voluntary administrators of the company. This follows an assessment of the company’s financial position and the restructuring alternatives available to the board of directors.
The administrators have commenced their analysis of the company’s position and have advised they intend to continue to trade AL Logistics during this restructure.
Ferrier Hodgson partner Martin Jones said: “We are working very closely with the company’s management and directors to achieve an outcome that is in the best interest of all creditors.
We have held initial discussions with the company’s main suppliers and I’m pleased at the level of support we have received which will facilitate the continuation of business as usual.”
The company’s major shareholder and Director John Silverthorne, has engaged specialist restructuring firm Avior Consulting to assist with a proposal for the restructure.
Dermott McVeigh, Avior Managing Director, said: “We are developing a restructuring plan that will deliver the best outcome for all stakeholders. The directors have worked hard to build the AL Logistics business through difficult economic circumstances. We are confident we will be able to restructure the company in a way that will allow its business to continue.”
AL Logistics Pty Ltd operates a transport and haulage business throughout the Northern Territory and Western Australia. It specialises in transport for the mining services industry and employs 33 staff and contractors.
Avior Consulting is a boutique financial advisory firm providing quality advice and support to growing mid-market companies. Avior Consulting has a proven track record in financial modelling, restructuring, transaction management, reporting, forecasting and strategy development.
Avior Consulting is located in Roberts Rd, Subiaco, WA with more information available at www.aviorconsulting.com.au
P: +61 488 986 743