Tasmanian Timber Engineering, which employs 32 people and manufactures wood products including trusses, frames and laminated timber beams, has gone into voluntary administration. The company is one of Tasmania’s largest building suppliers. Source: ABC News
The company has appointed an administrator and cited the downturn in the building industry as the reason for its problems.
Administrator Barry Hamilton said that some of the 32 employees will lose their jobs but cannot say how many.
It is hoped the business will be sold as a going concern.
“It (Tasmanian Timber Engineering) was having difficulty meeting its creditors’ claims due to a downturn generally in the building and manufacturing industry,” Hamilton said.
“We’re currently reviewing the company’s business practices and looking to sell that business as a going concern and believe there’ll be strong interest in that business.”
