THE directors of Gawler River Cattle Company have placed the company in voluntary administration to work on an overhaul/restructure of its retail and wholesale meat operations.
Stephen Duncan and Chris Powell of restructuring specialists DuncanPowell have been appointed voluntary administrators.
The Gawler River Cattle Co business employs 38 people across its retail and wholesale meat and livestock operations in SA, with an annual turnover of more than $26 million in FY 2015.
The company’s principal operations are based at Royal Park, with other retail outlets at Craigmore, Christies Beach and Kadina. A number of other retail outlets have been closed in the past 12 months.
Mr Powell said the company’s directors were enthusiastic about the opportunity of restructuring the business to enable Gawler River Cattle Co to secure its future.
“This Company has been beset by some unexpected problems in recent years, most of which have been out of its control, including a fire and the theft of livestock which has significantly impacted on the capability of the business to trade efficiently,” he said.
“We will work closely with the Company’s stakeholders to achieve the best possible outcome which may include a sale of the business.”
Mr Powell said it was business as usual at the remaining Gawler River Cattle Co outlets, supplying retail and wholesale customers.
