Ostwald Brothers Shock the Community with Announcement: Placed into Voluntary Administration

Western Downs based company

Ostwald Brothers Shock the Community with Announcement:  Placed into Voluntary Administration Contributed

The fall out continues after the shock announcement by Western Downs based construction company Ostwald Brothers that they have been placed into Voluntary Administration.

After the announcement was made yesterday, all staff were stood down for 48 hours while the administrators, Price Waterhouse Coopers who have been called in to take over the running of the company, carried out their review.

The livelihood of around 470 employees and their families is now under threat.

Maranoa MP David Littleproud says he will work with the federal government to support those affected by this announcement.

Reports indicate that the decision stems from some on-going contractual disputes around the Second Range Crossing and upgrades to the Pacific Highway over the border.

The first meeting with the creditors is due Wednesday next week.

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