Image: XL Express
After announcing last month that it was in voluntary administration, national logistics operator XL Express is officially in liquidation.
On June 27, FTI Consulting was appointed as the voluntary administrators of the Brisbane-based transport company to conduct an “urgent assessment” of the company’s viability.
The national business first started operating in 1990, having more than 35 years of industry experience.
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The administration notice impacted XL Express Operations as well as 15 associated entities under the company banner.
On August 4, an ASIC notice confirmed the operator was in liquidation via a noticed of deemed special resolution to wind up a company.
A News Corp report says administrators found XL Express had up to $41.9 million in total debts across its companies. This included $5.3 million owed to 200 former employees and $3.4 million to the Australian Taxation Office.