Mackay engineering company and manufacturer MACS Engineering went into voluntary administration yesterday and, as a result, 76 workers lost their jobs.
The Mackay Daily Mercury reports that the company’s Mackay and Caboolture offices ceased trading yesterday as Derrick Vickers and Darryl Kirk, of PwC, were appointed as administrators.
According to MACS Engineering director Ross Fredrickson, the decision to appoint voluntary administrators was a last resort. All other options were considered but none were viable.
"We wanted to ensure, in the situation, that the best possible outcome for staff, creditors and other key stakeholders was achieved," Fredrickson said.
According to Vickers, the 76 employees will be eligible for assistance from Centrelink and the Federal Government's Fair Entitlements Guarantee.
"Had we stood the workers down while we look for a buyer they would not have access to any assistance," Vickers said.
He said that the administrators are now looking for a buyer of the business who would re-employ the former MACS workers.