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UPDATE Liquidators say Ballarat manufacturing company Ceramet had been unprofitable for more than five years before it went into liquidation last week. Greg Andrews from GS Andrews Advisory toldThe Couriermanagement strategies to improve profit had failed. The companys closure is probably a bit of a hangover from the demise of the Australian car industry, howeverthe company has been unprofitable over the approximately five or six years the current owners have had it, he said. The owners had no choice but to call a halt and place the company into liquidation aftermanagement decisions or strategies they hoped would improve profitability failed and the losses were continuing. Because of the forthcoming Christmas break and …
Read the full article at: https://www.thecourier.com.au/story/5788466/delacombe-manufacturer-unprofitable-for-years-before-going-broke/
