McAleese Transport at Paget has reportedly laid off employees.
McAleese Transport at Paget has reportedly laid off employees. Tony Martin

McAleese receivers confirm layoffs, and closure of Mackay business

UPDATE 12.42pm:  McAleese Transport receivers have confirmed that lay offs were part of a "progressive closure" of the Mackay business.

The receivers, McGrathNicol, took over the operation of McAleese Group in August.

Mackay and Rocklea in Brisbane are two depots that will be closed.

The company did not reveal how many employees were affected by the closure. 

UPDATE: MCALEESE Transport employees have been laid off at the Mackay offices.

While management were refusing to comment, one employee contacted the Daily Mercury saying he had received a letter on Monday to say his employment was terminated.

There has also been employees discussing the layoffs on Facebook.

 "Well today marks the end of my employment at Walter Wright Cranes and McAleese transport," Mark Hain said on Facebook.

 "I'd like to thank all the guys I've met and worked with over the last few years it has been a pleasure to work with you all, now to look forward to what the future may hold fingers crossed it all works out!"

Fellow employee Deb Axford called the closure the "end of an era" .


This is the latest action taken after the company went into receivership a few months ago.

Company goes into receivership

McGrathNicol announced Joseph Hayes, Jason Preston, Jamie Harris and Keith Crawford were appointed Voluntary Administrators of McAleese Limited and each of its wholly owned subsidiaries with the exception of Sunshine Refuellers in August this year.  

In June this year the McAleese Group entered into a binding agreement with its financiers in relation to a proposed recapitalisation, the objective of which was to create a sustainable capital structure for the McAleese Group.

The struggling company was not able to go ahead with it's recapitalisation deal as a condition was not met or waived by financiers.  

Read the story about the refinancing deal here   

The deal was subject to two conditions being satisfied or waived prior to the expiration of forbearance arrangements extended by the McAleese Group's financiers.  

Administrators had been advised that one of those conditions was not met or waived by the financiers.

As a result the McAleese Group's uncompromising senior debt and accrued interest became immediately due and payable.  

The Group's financiers declined to enter into any new arrangement which would put off the business going into administration.   Earlier in August McAleese's CFO resigned.  

Company history

  • 1930s - The company was founded
  • 1960s/70s - A.W. Rasmussen (AWR) Transport bought McAleese Transport
  • July 2008 - McAleese Transport purchased the naming rights for a gallery in Artspace Mackay
  • January 2011 - A McAleese Transport spokesperson said flooding had severely affected heavy industry
  • April 2012 - The company acquired International Energy Services (IES)
  • August 2013 - Keith Price, who owned McAleese Transport at the time, was named one of Queensland's richest people raking in $87million. The Daily Mercury reported The McAleese Group employed 2000 and had an annual turnover of $750million

 

EARLIER: MCALEESE Transport employees have been left in limbo after administrators informed them they would be laid off according to an employee.

The Mackay staff members who asked to remain anonymous said no redundancies had been offered and employees were informed Monday.

The Mackay office is open but an employee did not want to comment when asked today.

The company's heavy haulage division has so far refused to comment on the rumours of the closure.

More to come.



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