QUEENSLAND’S mining services capital of Mackay and its resources resurgence have taken a hit with a longstanding local company going into voluntary administration.
Ricbuilt Heavy Industries, a leading engineering company with a strong reputation in the mining services sector, owes creditors more than $2 million.
Administrator Frank O’Neill from insolvency firm SV Partners said Ricbuilt’s financial options were being assessed, including the sale of all or part of the business.
Meanwhile, he said the company was continuing to trade and it was “business as usual” for its 32 staff.
Queenslands mining services capital of Mackay has been hit by a longstanding company being put into voluntary administration.
Mr O’Neill and SV Partner…
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