A mechanical support provider in the resources sector appointed voluntary administrators to potentially help sell the company on September 4.
MRS Services Group has chosen Jirsch Sutherland managing partner Bradd Morelli, partner Sule Arnautovic and fellow partner Trent Devine as voluntary administrators of the company’s five struggling entities. Affected operations include Holdings (MRS), Bachmann Plant Hire, MRS Property No1, Management Resource Solutions and the group itself.
No plans to close
Administrators will manage and investigate the group’s activities and potentially sell the business or consider drafting a deed of company arrangement. There are no plans at the moment to shut down the business.
“It is the voluntary administrators’ current intention to continue trading on the business of the MRS Services Group during the voluntary administration period, which includes servicing its various customers and employing its current staff,” Jirsch Sutherland said in a public statement. “Voluntary administrators are hopeful that the business will survive and continue post administration and are currently in the processing of contacting and meeting with all key customers and suppliers to ensure continuity of the business.”
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Hundreds of jobs on the line
MRS employs about 400 staff and operates in the Upper Hunter Valley and Ipswich, Queensland.
The first meeting with creditors of the group will be held on 16 September 2019. For more information email email@example.com or phone 1300 547 724.