A brisbane trucking company is in administration after trading for 23 years, with about $1 million in debts.
Newnham Trucking, which operated out of Park Ridge on Brisbane’s southside, went into voluntary administration and ceased trading in June.
Its sole director and shareholder Graeme Newnham is still operating another transport business.
He is also the sole director and shareholder of two related and still active companies: Express-West Transport, which was registered in 1989, and Newnham Trucking No 2, which was registered in May this year.
A new report from the administrator for Newnham Trucking yesterday revealed the business had about $1 million in estimated debts, including $492,387 owed to the Australian Taxation Office.
Trade creditors, including suppliers and other service providers, were owed an estimated $226,838, the report from administrator Leon Lee of Morton & Lee Insolvency said.
Employees were owed up about $52,418 in superannuation, the administrator wrote.
According to the report, the director said “poor economic conditions and trading losses” had contributed to the company’s failure.
Unaudited financial statements from Newnham Trucking showed it had suffered a loss of $253,404 in the 2025…