National transport and logistics company XL Express has gone into liquidation after 35 years in business.
It has collapsed owing almost $42m in estimated debts, with about 200 employees to be left without jobs.
The Brisbane-based trucking company was founded in 1990 and operates along Australia’s east coast between Melbourne, Sydney and Brisbane.
The company was plunged into voluntary administration in late June and appointed administrators Kelly-Anne Trenfield, Ross Blakely and Joanne Dunn from FTI Consulting, who conducted an “urgent assessment” into its finances.
As part of the liquidation, its 200 employees were stood down and the premises in Western Sydney were locked due to unpaid rent, the administrators said.
The FTI…