The future of the remaining 20 per cent of AWA which was not included in the sale Cabrini Health will be decided by its creditors when they meet at the end of this month, according to the business’s administrators.
The partial sale of AWA announced yesterday refers to the Information, Communication and Technology Services Division, which represented approximately 80 per cent of AWA’s business.
AWA will be integrated into a new group called Cabrini Technology Services, but will continue to trade under the AWA name and brand.
According to PPB Advisory, responsible for overseeing the sale, the outcome saved 130 jobs and will “secure the future of an iconic 105 year old Australian brand.”
PPB Advisory said that 79 people were made redundant during the administration process. AWA’s website stated they employed 250 people, but at the time of administration a number of positions were filled by casual employees or were vacant.
“The successful sale of the ICT business, which led to the preservation of an iconic Australian brand and 130 jobs, marks the end of the trading period under the control of the Administrators,” PPB told Appliance Retailer.
“With regard to the corporate entity itself, the future of this will be decided by creditors at the second creditors meeting scheduled for 30 May.”