Australia’s second-largest disability employment provider Bedford will be kept afloat by a federal government funding injection as it seeks a buyer for the embattled business.
Bedford avoided entering voluntary administration in July after it aired concerns about its financial position, prompting the South Australian government to provide a $15 million lifeline.
Advisory firm McGrathNicol was also appointed to help restructure the business.
Federal Minister for Health, Ageing and Disability Mark Butler confirmed on Friday the Commonwealth would provide $4.4 million in funding to “continue the employment of 1,500 or so South Australians” who are employed by Bedford while a sale takes place.
Mark Butler says the funding will allow Bedford to…