One of Australia's biggest live export companies goes into administration

One of Australia's biggest and oldest live export companies has gone into voluntary administration in a sign of how much pressure the industry is under.Record high domestic and live export cattle prices are putting pressure on exportersNorth Australian Cattle Company was founded in 1980 and was run by Elders for nearly three decades until its sale to aOn Monday, the company went into voluntary administration with debts of approximately $3.6 million.

A statement from administrator Jirsch Sutherland said the company was impacted by the pandemic, delays in shipments, the quarantine required for cattle and a competitive global livestock market. "It's too early to say what the financial position is as yet, but the estimated amount owing to trade creditors is approximately $3.6 million," it said.NACC managing director Ashley James told ABC Rural he was unable to comment on the state of the business until administrators had met with the board.The company was trying to ascertain how many cattle were yet to be processed, he added, and that "his responsibility was to ensure animal welfare was accounted for".

"Another focus will be looking after the welfare of the company's six full-time employees, as staff await further instructions from the administrators." NACC confirmed no cattle controlled by the exporter remained in Australian quarantine facilities or at sea.

This is cause for celebration 🎉 good riddance

Best news in weeks. How much to the Chinese owe in entitlements and to the ATO?

Another nail in the coffin of this terrible industry

Very good news, an end to live exports of cruelty ?

Hope more companies follow. Exporters should not be allowed to profit from cruelty.

Cruel fukkers

You go on about Chinese owned this and that... but look at this... the US owns all your beef

Good news 🙂

Great to hear

The Morrison Government is committed to full cost recovery for the Live Animal Export industry. The proposed cost increases may shut down an industry where animal rights activists have failed. ausag ABCRural

good

Good.

it's nice to get some good news..

Great. Get Australian owned

Move to on shore processing and cryovac meat for export.

Just in time to be scooped for fir pennies on the dollar by 🇨🇳 no doubt

Karma

So much for the Morrison Mc Cormack supporting them lol

Another company bought by the Chinese goes into administration auspol

That's not much to pay back ,$3.6 million ,so what's the real reason ? It was bought by Chinese

Ban.

Sverige Senaste nytt, Sverige Rubriker

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