THE future of Ostwald Bros still hangs in the balance, with interested parties set to decide within weeks whether to dissolve or save the business.
Dozens of unsecured creditors met with the administrators for the struggling civil construction company in Toowoomba yesterday, as further details were revealed about its financial woes.
PriceWaterhouse Coopers’ Derrick Vickers revealed some of the 536 creditors were owed millions of dollars, and that Ostwald Bros’ debt was potentially higher than the $61 million figure reported previously.
He said at least 30 parties were interested in buying some or all of the company.
Read the full article at: https://www.thechronicle.com.au/news/ostwald-bros-61m-debt-could-rise-after-creditors-m/3221004/
