Administrators in bid to sell collapsed $4.5 million manufacturer

Administrators in bid to sell collapsed $4.5 million manufacturer

The administrators of a collapsed manufacturer of timber windows and doors have advertised the business for sale. 

James White and Atle Crowe-Maxwell of BDO were appointed as administrators to Scar Top Joinery, trading as Scar Top Timber & Doors, last week. 

The administration follows the collapse earlier this year of a number of established manufacturers.

The Performance of Manufacturing Index also continues to remain in negative territory.

The index, which is published by the Australian Industry Group, eased by 0.3 points in June to reach a level of 48.9.

The administrators are seeking expressions of interest for a sale of Scar Top’s business and assets.

Scar Top has been in business since 1993, trading from premises in Fountaindale, New South Wales.

SmartCompany contacted BDO for comment but did not receive a response prior to publication.

Colin Porter, managing director of CreditorWatch, told SmartCompany the construction and manufacturing sectors are both high risk.

“Manufacturers which are not growing are likely to struggle as the cost of materials keeps on going up,” he says.

You can help us (and help yourself)

Small and medium businesses and startups have never needed credible, independent journalism and information more than now.

That’s our job at SmartCompany: to keep you informed with the news, interviews and analysis you need to manage your way through this unprecedented crisis.

Now, there’s a way you can help us keep doing this: by becoming a SmartCompany supporter.

Even a small contribution will help us to keep doing the journalism that keeps Australia’s entrepreneurs informed.

Trending

COMMENTS

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments