In the 1930s Wally McAleese started a company with trucks parked outside his River St home that eventually became an ASX-listed logistics company worth $635.2 million – so how did it end up in voluntary administration less than three years later?
When former Mackay based transport firm McAleese Limited listed on the Australian Securities Exchange barely three years ago – bragging of growth rates of nearly 15% – it looked like a local feel good story had just got even better.
More than 85 years after Wally McAleese started the company, using trucks he parked outside his River St home, the company’s opening share price was $1.57 and the company was valued at $635.2million.
But on August 29, with a share costing less than t…
Read the full article at: http://www.chinchillanews.com.au/news/how-the-fortunes-changed-for-trucking-company/3118793/