brisbane-based shipbuilding company Aluminium Boats Australia has collapsed into voluntary administration following the loss of one if its navy vessels in a massive fire earlier in the year.
The company is the latest Australian manufacturing company to collapse, with FTI Consulting Group’s John Park and Kelly Trenfield appointed as administrators on Tuesday.
A statement provided to SmartCompany by FTI Consulting said the commercial and naval shipbuilder had now stood down its staff, given the uncertainty over the financial viability of the business.
The fire that destroyed the company’s HMAS Bundaberg in August was the catalyst for the company’s downfall, according to a statement from Aluminium Boats Australia director Roy Whitewood, who said the voluntary administration process would help the company address the 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,” said Whitewood.
“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…
