The NSW town of Young has been left reeling after its largest employer, Burrangong Meat Processors, collapsed into receivership.
More than 300 workers were stood down yesterday after the company was placed in the hands of receiver Allan Hayes from insolvency firm PPB.
However, workers have been left without entitlements and appear unlikely to even be paid for last week’s work.
“We have no cash available to pay the employees any of their entitlements as it stands at the moment,” Hayes told ABC Online.
“We know there is stock there and we know there is the Federal Government’s GEERS Scheme, which supports employees in times like these. It’s sad, there’s just no doubt about it.”
Burrangong, which was established in 1985, operated one of the last abattoirs in Australia that processes all species, including sheep, cattle, goats, deer and pigs.
A drop in the level of stock available for processing caused by the drought appears to have weighed heavily on the company in recent years.
James was the editor and publisher of SmartCompany and LeadingCompany for five years. He is now the Australian Financial Review‘s companies & markets editor, and a former BRW editor.
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