A CANBERRA-based earthmoving company which is working on upgrades to HMAS Albatross has stood down contractors and stopped work.
Following a preliminary review, the company Hewatt underwent voluntary administration.
Most of the company’s employees were stood down as administrators conduct further reviews of the business and options for its future.
PPB Advisory has been appointed as administrators for the Hewatt Group. Partner Christopher Hill said it was unfortunate workers had to be stood down, but the company was not in a position to continue to employ them.
“Over coming weeks, we will work constructively with management, employees, subcontractors, suppliers, clients and relevant union and government bodies to assess options for the future of the business,” he said.
Hewatt is a civil earthworks contractor employing over 200 full-time workers that has operated for nearly 25 years.
The first creditors meeting will be held in Canberra on May 20 at 10am.
For more information visit the PPB Advisory website www.ppbadvisory.com.