MANNWAY TRANSPORT AND LOGISTICS GROUP WINDING UP
9 December 2009
The Mannway transport and logistics group will be winding up its operations before Christmas.
Ferrier Hodgson Partner and Mannway Receiver and Manager George Georges said notwithstanding the wind up he is optimistic a significant number of staff will be snapped up by other road transport operators.
“We are continuing to work with certain parties in relation to a potential transition of parts of the business with a view to securing employment for as many people in the Mannway workforce as possible,” Mr Georges said.
The large road transport operator had turnover of approximately $70m and distribution centres in Victoria, NSW and QLD.
Following the appointment of Voluntary Administrators by the director of Mannway in October, Ferrier Hodgson Partners Mr Georges, Brendan Richards and Morgan Kelly were appointed as Receivers and Managers.
They have continued to operate the Mannway business despite the ongoing need to fund trading, with a view to securing a going-concern sale of as much of the business and assets as possible.
“It is a disappointment to see the end of such an iconic and well-known Australian transport business,” Mr Georges said. “It has been a victim of the extraordinarily difficult economic conditions facing the transport industry at present.”
ENDS