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

Facing the latest impacts of cyber-crime: cyber insurance premiums increase for businesses
Partner Content
As Australian businesses are forced to adapt to a new normal yet again, a different typ...
Aon
Advertisement

Related Stories

Dubber expands AI expertise with $6.6m acquisition of Brisbane-based Notiv

Dubber expands AI expertise with $6.6m acquisition of Brisbane-based Notiv

ASX-listed software group Dubber Corp (ASX: DUB) has today acquired...

Can Queensland cash in on the NRL finals? It’s all about ‘event leveraging’

Can Queensland cash in on the NRL finals? It’s all about ‘event leveraging’

Queensland's love of rugby league, and the fact the state isn...

QLD businesses urged to line up early for 2032 Olympic economic boom

QLD businesses urged to line up early for 2032 Olympic economic boom

Queensland businesses are being encouraged to collaborate early wit...

Hotel Property Investments and Good Drinks Australia pick up pub assets

Hotel Property Investments and Good Drinks Australia pick up pub assets

Two ASX-listed companies have picked up pubs this week, with Hotel ...