ALUMINIUM BOATS PLACED IN VOLUNTARY ADMINISTRATION

ALUMINIUM BOATS PLACED IN VOLUNTARY ADMINISTRATION

ALUMINIUM Boats Australia Pty Ltd has been placed into voluntary administration, after losing its maintenance contract with the Royal Australian Navy.

A fire destroyed a multi-million dollar navy patrol boat at the shipbuilder’s Hemmant dockyard in August.

The fire started on board the boat and the insurance company is still investigating the cause.

Aluminium Boats Australia director Roy Whitewood says the voluntary administration process will help tackle the company’s financial challenges.

“It is my strong hope and desire to return the business to financial health and I will be working closely with the administrators to try and achieve this,” Whitewood says.

“I would like to take this opportunity to thank our staff who have shown enormous support to the company, particularly during the past 11 weeks as we have sought to work through a range of issues following the fire.”

The company was founded in 1999 and manufactures and maintains commercial, luxury and defence vessels across Australia.

John Park and Kelly Trenfield from FTI Consulting Group have been appointed as administrators.

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Operating the board collaboratively, efficiently and securely
Partner Content
'Digitisation' and 'digitalisation' are two words that are frequently t...
OnBoard
Advertisement

Related Stories

Black Hops taps into craft beer thirst raising a record $2.2m in a day

Black Hops taps into craft beer thirst raising a record $2.2m in a day

The thirst for a piece of the craft beer industry has seen emerging...

Raider Targetry locked on to hit its moving targets

Raider Targetry locked on to hit its moving targets

After being provided with the opportunity to work with Australian s...

Jumbo to expand UK presence with $32m acquisition of StarVale

Jumbo to expand UK presence with $32m acquisition of StarVale

Digital lottery service provider Jumbo Interactive (ASX: JIN) has e...

Centuria Capital secures West Village retail for $202m

Centuria Capital secures West Village retail for $202m

Centuria Capital Group (ASX: CNI) has snared an emerging inner-city...