ABOUT 45 people have lost their jobs after a Horsham freight company ceased trading this week.
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Bronzewing Freighters was placed into liquidation on Tuesday.
The business, in Carine Street, Horsham, had been operating in the Wimmera since 1984.
The company is now under the management of Worrells Solvency and Forensic Accountants.
Worrells liquidator Nathan Deppeler said Bronzewing Freighters ceased trading on Tuesday.
“Unfortunately, the company’s employees had to be terminated on that day as well,” he said.
“There was more than 40 employees effected – about 45 to 48 people.”
Mr Deppeler said the company had been struggling financially.
“They had had a tough run over the past six months because of industry conditions,” he said.
“They were running on the sniff of an oily rag for a little while.
“The company had large statutory obligations that it needed to fill and they also had issues with financial records and reporting.
“Basically, they had been doing it tough.” Mr Deppeler said Worrells Solvency and Forensic Accountants would now secure and collect all the company’s assets.
“That mostly includes the company’s trucks,” he said.
“There are a few finance companies that are owned money and a creditor that was invested as well.
“All the items will be collated and sold.”
Mr Deppeler said all terminated employees would receive payment, as required under the Fair Entitlements Guarantee Act.
He said outstanding debts to investors would also be paid.