free daily newsletter
View all innovation growth

Trucking company in administration; 1000 jobs at risk

About 1000 jobs are under threat in Sydney after national trucking company 1st Fleet went into administration.

Sydney administrator deVries Tayeh was appointed to oversee the day-to-day running of the company.

Joint administrator Riad Tayeh told AAP: “It's run out of cash.”

"As you can see it's a tough time in the economy, so we're just trying to get a handle on the cash flow at the moment and trade it on and see what we can do with it,” Tayeh said.

"We hope within the next two weeks we'll be able to work out a direction," he said.

Tayeh said efforts would be made to minimise job losses.

The company operates about 1000 trucks and was formed in 1988.

Follow SmartCompany on Facebook, LinkedIn and Twitter.

Free Daily Newsletter
Invalid Input

inside innovation: how 6 SMEs shook up business

Some know me as the
Business Bitch. Others just call
me Aunty B. I'm Smartcompany's
resident Agony Aunt.

t @IamAuntyB #AuntyB

Or you can email:


Want more helpful advice from Aunty B?

Read more now