- XL Express has gone into liquidation
- Millions owed to staff, creditors and the tax office
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Two hundred jobs have been lost in the collapse of a major trucking company that has gone into liquidation with $40million in estimated debts.
Transport and logistics company XL Express had been in business for 35 years and operated along Australia’s east coast, delivering freight and packages between Sydney, Melbourne and Brisbane.
The company went into voluntary administration in June after it was locked out of its premises in Smithfield, south-west Sydney, due to unpaid rent.
Administration progressed to liquidation on Monday, with the company assessed as having no way of trading back to solvency.
XL Express is $41.9million in debt, with $5.3million owed to 200 staff and $3.4million to the tax office, administrators revealed.
More than a dozen associated companies that operated under the XL Express group…