Contract Carriers put into voluntary administration

0
1948

Longstanding local contractors Waimea Contract Carriers Limited has been put into voluntary administration following cash flow pressure resulting from adverse trading conditions.

John Fisk and Richard Longman, Partners of PwC, today have been appointed Administrators of the log transport business operating in Nelson and Marlborough.

It is the intention of  Waimea Contract Carriers to continue  trade as usual while they assess rehabilitation options.

Administrator John Fisk says, The company’s Directors made the difficult decision to put the company into voluntary administration due to cash flow pressure.

“The administrators will seek to work with the company’s clients to continue to support their forestry activities. During the moratorium period, we will be focused on developing a plan that, we hope, will result in returning the business to viability.”