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.
Having commenced their analysis of the company’s position, the administrators have advised they intend to continue to trade AL Logistics during this restructure.
Ferrier Hodgson partner Martin Jones said that the administrators are working very closely with the company’s management and directors to achieve an outcome that is in the best interest of all creditors.
The company’s major shareholder and Director John Silverthorne has engaged specialist restructuring firm Avior Consulting to assist with a proposal for the restructure.
According to Dermott McVeigh, Avior Managing Director, a restructuring plan is being developed that will deliver the best outcome for all stakeholders. Avior is confident about restructuring 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, specialising in transport for the mining services industry.