A high-profile haulage company that has been operating since 1999 has collapsed into voluntary administration.
Heavy Haulage Australia specialises in haulage movements of between 4000-8000 tonne for the infrastructure and mining sectors.
The company is also a prominent sponsor of the V8 Supercars and is the subject of a television series on Foxtel called Megatruckers, which is based on founder and “self-made millionaire” Jon Kelly and his $40 million fleet.
Ferrier Hodgson has been appointed to manage the administration, with Brendan Richards, John Lindholm and Tim Michael appointed as voluntary administrators.
In a statement provided to SmartCompany on Monday afternoon, Ferrier Hodgson said it will continue to trade the business as usual while it seeks a buyer for the business and makes arrangements to protect the interests of employees, customers, suppliers and creditors.
The administrators said Heavy Haulage Australia was placed in voluntary administration to protect the company’s “considerable assets” and maximise the possibility of the business continuing as a going concern.
Brendan Richards said in the same statement it is disappointing to see another high-profile Australian transport business in financial difficulty.
“This is indicative of the downturn we are seeing in the resources sector and the knock-on effect it has and will continue to have on the transport industry,” Richards said.
“Unfortunately, Heavy Haulage Australia has a very high cost base and when revenues are challenged, it is left with little room in which to manoeuvre.”
“We will be working hard to try and achieve a strong outcome for all the parties involved, but this is a tough time for Australia’s transport industry and heavy haulage businesses in particular.”
The first series of Megatruckers was broadcast on Foxtel’s A&E Channel in 2012 and, according to the Heavy Haulage Australia website, there were plans to film a second series in 2014.
Editor
Eloise is an experienced business journalist and editor, who has held senior editorial roles at SmartCompany since 2014. Prior to joining SmartCompany, Eloise was news editor at Books+Publishing, the trade press for the Australian book industry. Eloise has degrees in media and communications, marketing and business management, and political science. You can follow her on LinkedIn, and Twitter at @ellykeating.
Comments