A Queensland-based entity, Bundaberg Farming Co Pty Ltd, has entered liquidation, subsequent to a court mandate, with its debts surpassing $16 million. The liquidation directive was issued by the New South Wales Supreme Court, which appointed Glenn Livingstone of WLP Restructuring as the liquidator. Previously engaged in fruit and vegetable cultivation, the company was inactive at the time of liquidation. The liquidator attributed the failure to several factors, notably inadequate financial management.

The liquidation analysis disclosed debts amounting to $16 million, with unsecured creditors owed $12 million, as reported by the Courier Mail. Additionally, the company had not paid $1.5 million in wages and superannuation to 215 employees…

Read the full article at: https://www.freshplaza.com/oceania/article/9620088/queensland-based-fruit-and-vegetable-entity-has-entered-liquidation/