BREAKING: HEAVY Haulage Australia has been wound up, 70 workers have lost their jobs and there's no coming back.
Ferrier Hodgson's Mr Brendan Richards, Voluntary Administrator of Heavy Haulage Australia (HHA), announced this afternoon that the company has failed to attract an investor willing to operate it as a going concern.
"While we received a promising level of initial interest from investors, the continuing fall in iron ore prices and the subsequent pressure on the Australian mining industry has seen that interest dissipate," said Mr Richards.
As a consequence, HHA will be formally wound up with the loss of more than 70 jobs across its operations in Brisbane, Toowoomba, Perth and Port Hedland.
HHA had a high profile as a heavy haul logistics specialist servicing the mining and
infrastructure sectors, as well as being a prominent sponsor of V8 Supercars. It was also the subject of the 'Megatrucker' series featured on Foxtel's A&E Channel.
The assets comprising more than 50 prime movers, 120 heavy haulage trailers, 15 cranes and 40 pilot and light commercial vehicles will be offered up for private sale.
"This is another sad day for the Australian transport industry but also further evidence that the decline in the mining industry is still very much continuing. The outlook for many of the companies with exposure to that decline is troubling to say the least, and further fallout is likely in the near future," commented Mr Richards.
A source has told Big Rigs that no entitlements had been paid to employees and they would no have to apply to the government for the missing money.
Read more about the fall of HHA in the next edition of Big Rigs.
Update your news preferences and get the latest news delivered to your inbox.