A trucking company that supplied all the major supermarkets is being liquidated after a buyer couldn’t be found for the faltering business – with 1,500 staff now left in the lurch.
Sydney-based Scott’s Refrigerated Logistics – which is Australia’s largest cold-chain logistics operator – went into receivership In February 2023 with staff told they’d been made redundant.
Investment and consulting firm, KordaMentha, broke the news to staff that a buyer wasn’t found in time for the struggling company.
Insolvency Australia, which produces the half-yearly Corporate Insolvency Index, says businesses are under strain.
‘We started 2023 just as we finished 2022, with rising interest rates, surging cost of living, labour and materials shortages and the tax office continuing its tougher debt collection stance,’ director Gareth Gammon said.
Coles said it was working to minimise the impact to consumers.
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