Liquidators of a southern Queensland timber firm say they are very close to reaching a deal that would see employees get their full entitlements. Source: ABC News
SV Partners is trying to find a buyer for NK Collins after the 60-year-old company folded in July, blaming a State Government hike in timber royalties for the collapse.
The future of sawmills in Toowoomba, Surat, Mitchell, Mungallala, Tambo and Augathella have been in doubt since.
SV Partners associate director Matthew Bookless said negotiations with the Federal Government are nearly complete and the company’s 40 employees should see their entitlements soon.
“So those entitlements which are now being assessed by the Government scheme I would expect to be paid out in the coming weeks to those employees, subject to the Government having any dispute that they want us to take another look at,” he said.
Bookless said that despite the protracted process, it is still quite possible the company will be sold.
“We expect to be in contract for the Mungallala and Augathella sites and associated timber allocations and we’re still liaising with interested parties with respect to the other central Queensland sites,” he said.
“As far as the Toowoomba sites are concerned, they will be listed for sale.”
