One of Australia’s largest independent logistics operators, XL Express, has entered voluntary administration after 35 years in business.
The Queensland-based company, which launched in 1990 and built a national road transport logistics network, has appointed FTI Consulting as voluntary administrators to carry out what it describes as an “urgent assessment” of the company’s viability.
The administration affects XL Express Operations Pty Ltd and 15 other associated entities under the XL Express brand.
“The administrators will investigate the financial position of the companies and provide a report to creditors in due course,” FTI Consulting says in a statement.
At this stage, it remains unclear precisely what has caused XL…