Administrators claim "strong interest" for sale of wheelie bin maker Trident Plastics
- businessinadelaide
- Jul 24, 2023
- 1 min read
The voluntary administrators for Adelaide-based wheelie bin manufacturer Trident Plastics emphasise trading is "business as usual" as they work towards finding a way forward for the company and its rotational moulding subsidiary Tranmor Enterprises within the next two to three weeks.
Daniel Juratowitch and Rachel Burdett of restructuring advisory firm Cor Cordis were appointed as administrators in late June for the company, which is one of largest custom moulders in Australia with key products including wheelie bins and skips.
The administrators have determined the two companies owe approximately $16.77 million to unrelated secured creditors and close to $21.5 to related secured creditors.
A further $10.3 million is owed to unsecured creditors, as well as $3.57 million in employee entitlements.
"As part of the voluntary administration process, we undertake an independent sales campaign for both entities to determine the best outcome for the business...this could be a sale of business, or sale of assets and may also involve a deed of company arrangement," the administrators said in an update today.
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