One of Australia’s biggest transport and logistics firms, the Wettenhalls Group, has been placed in receivership.
The Wettenhalls business has operated for nearly 90 years and has annual turnover of about $120 million. It operates from eight locations around the country and services large retail customers. The business employs 450 staff and utilises a large number of sub-contractors.
Ferrier Hodgson partners Brendan Richards and George Georges were appointed Receivers and Managers of the Wettenhalls business on Friday January 25.
Mr Richards said he would be assessing the business over the course of the long weekend and expects to explore options for an urgent sale next week. In the meantime it will be business as usual.
“We will have a clearer picture of the future of the business next week,” Mr Richards said.
Wettenhalls has its roots in Colac where it began in 1925 as Amezdroz & Menzies, with one customer (Regal Cream, now Bulla Dairy Foods) and one truck and grew to be a significant transport and logistics business.
It claims amongst its customers a number of large FMCG and industrial firms, such Fonterra, CSR, Bega, Goodman Fielder and OneSteel, and more.
Mr Richards said he had already received a significant number of calls from other businesses interested in buying parts of the Wettenhalls Group.
