“Several parties” have expressed interest in purchasing McVilly Timber, which operates under the company name of Mount Edisar Pty Ltd, administrators say. Source: The Standard
Administrators were appointed to Terang-based McVilly Timber on February 13, closing the company, which has operated for 42 years.
Administrator PPB Advisory marketing and communications director Kim Lovely said discussions were “continuing with several parties who have expressed interest in purchasing the business”.
She said the commercial discussions were confidential and information about the level of interest and nature of inquiries could not be disclosed.
A creditors’ meeting in Geelong was attended by one creditor and four by proxy. All were in favour of the chairman.
The Australian Taxation Office is owed about $700,000 and other creditors are owed in excess of $1million, she said.
In an earlier article, The Standard has said that administrators were appointed to Terang-based McVilly Timber, closing the company.
The company owed about $1 million and 27 workers were without jobs at locations including Terang, Timboon, Mumbannar, Bungaree and Winchelsea.
Mr McGinty, 30, of Dartmoor, said seven workers and one truck driver were made redundant at the Mumbannar site.
Corangamite Shire mayor Jo Beard had said she was seeking clarity with administrators about the job losses and future opportunities for workers.
Administrators PPB Advisory is called for “urgent expressions of interest” to buy the business and assets. Non-binding bids were due Friday, February 24.
