MORE than 200 Ostwald Bros employees are facing the sack, with administrators of the embattled civil construction company to recommend the company be liquidated at a creditors’ meeting next week.
The employees were kept on by administrators PricewaterhouseCoopers after they took control of the company in late August in an effort to improve the company’s bottom line and complete several contracted projects.
At a meeting at Toowoomba’s Empire Theatre at 2.30pm on Thursday, November 30, it will be left up to the company’s hundreds of creditors to decide what would be in their best interests – to restructure the company through a deed of company arrangement, for the administration to end, or for the company to be liquidated…
Read the full article at: https://www.thechronicle.com.au/news/ostwald-failure-210-workers-face-sack/3273949/
