One of Australia’s biggest and oldest live export companies has gone into voluntary administrationin a sign of how much pressure the industry is under.
Key points:
- NACC goes into voluntary administration, owing around $3.6 million
- Record high domestic and live export cattle prices are putting pressure on exporters
- Export companies report losing between $200 and $300 per head
North Australian Cattle Company (NACC) was founded in 1980 and was run by Elders for nearly three decades until itssaleto a Chinese-Australian buyer in 2017.
On Monday, the company went into voluntary administrationwith debts of approximately $3.6 million.
Astatement from administrator Jirsch Sutherland said the company was impacted by the pandemic, delays in shipments, th…
Read the full article at: https://www.abc.net.au/news/rural/2021-06-02/live-export-company-nacc-voluntary-administration/100184262
