By Martin Vedris
SYDNEY: The future of Centrex (Aust) Pty Ltd is to be decided at a meeting of creditors which has been convened for September 4 to vote on placing the company into liquidation, while the proposed liquidator issued a caution to other distributors dropping margins.
Specialist insolvency, turnaround and forensic accounting firm Jirsch Sutherland is assisting the directors and shareholders of Centrex (Aust) Pty Ltd and affiliate company Advanced (Aust) Pty Ltd to place the companies into voluntary liquidation. It is proposed that Mr Sule Arnautovic, Partner of Jirsch Sutherland, be appointed liquidator in this regard.
“The importation of such goods is becoming an increasingly competitive space,” Arnautovic told Current.com.au today.
“More than ever there is increased pressure on margins and a general push to be bigger in terms of volume; there will probably be more companies in this space that will struggle.”