Rocky jobs on the line as business goes into liquidation
JOBS are on the line with the future of a Rockhampton wholesale warehouse hanging in the balance.
The Cairns-based wholesale distributor, Interstate and Country (IAC) Wholesale has gone into liquidation, casting a dark cloud over its warehouse operations in Cairns, Townsville and Rockhampton.
Todd Kelly and John Goggin of BDO North Queensland have been appointed joint liquidators.
Mr Goggin said about 30 staff "had been retained" at the company.
"We are continuing to trade for a limited period while we try to find a buyer," he said.
"We're at a critical juncture in the sale process, and expecting to have the outcome of a marketing campaign finalised this week.
"A lot will depend on the outcome of this.
"The aim is to try and sell the business ... to achieve the best outcome for stakeholders."
Mr Goggin was unable to say how much, if any, money IAC Wholesale owed to staff and creditors.
Records show Sydale Pty Ltd - under which IAC Wholesale trades - has been a registered company since 2003.
While its doors remain open, questions remain as to how the company found itself in such a precarious position.
The Cairns Post reported in late 2014 that IAC Wholesale was undertaking an expansion across Northern Australia after landing a suite of lucrative contracts.
Chief executive John Smith said he was unable to comment on the matter.