Agribusiness Liquidation Case Study
When Rodgers Reidy was appointed as liquidators of a large-scale [...]
When Rodgers Reidy was appointed as liquidators of a large-scale [...]
Australia’s hospitality sector has been one of the hardest hit in recent years. Extended lockdowns, staffing shortages, soaring wage and supply costs, energy price spikes and cautious consumer spending have combined to create the perfect storm for many operators. Too many good businesses, often family-owned and deeply embedded in their local communities, have reached the point where directors can no longer see a viable path forward.
An incorporated business faced mounting losses from unprofitable fixed-price contracts, rising costs and low productivity, leading to debts of $340,437. A Small Business Restructure was accepted by creditors at 21.2c/$, and the business has since returned to profitability with tighter cost controls, new charge-out rates and improved financial management.
CS Logistics Group was an international freight forwarding and warehousing group comprising CS Logistics and CS Warehousing and was placed into Voluntary Administration (VA).