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 operated across Australia.
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.