WESTERN Grains Rural was yesterday placed in the hands of an administrator, according to a notice from the Australian Securities and Investment Commission (ASIC).
The ASIC website names David Mansfield and Robert Woods of Deloitte Financial Advisory as joint administrator for Quiza Pty Ltd, trading as Western Grains, and known more widely as Western Grain Rural or Western Grains Rural.
Sources have indicated that Western Grains Rural has in recent times been supplying grain from growers to consumers, largely in southern New South Wales, and has also traded in cottonseed.
In previous years, Western Grains Rural owned and operated a bulk-handling site in the township of Hillston in south-west NSW.
Western Grains sold it to an investor in 2019-20, and Moree-based company Customised Farm Management (CFM) now operates the site, which can store up to 25,000 tonnes of grain, on behalf of its client.
CFM and the current owner of the site have no relationship with the entity which is now in the administrators’ hands, and continues to use the Western Grains name for operational purposes only at the Hillston township site.
The Western Grain Rural website states the company also ran a fleet of bulk tippers.
Western Grains principal John Fitzgerald has been contacted for comment.
The administrator responded late today with the following:
Deloitte Turnaround & Restructuring partners David Mansfield and Robert Woods were appointed Voluntary Administrators of Quiza Pty Ltd on 3 May 2022.
The company trades as Western Grains Rural, and is primarily in the business of grain trading.
The Administrators have commenced undertaking an urgent assessment of the company’s assets and the business’s viability.
The sole director has indicated their intention to propose a Deed of Company Arrangement to creditors.
An initial assessment of this by the Administrators indicates the proposal would result in a significantly better return to creditors than liquidation.
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