All Trades Queensland ‘should collapse’: Administrator
Administrators of All Trades Queensland will recommend the training organisation be placed into liquidation after a sale campaign failed to find a buyer.
FTI Consulting administrators John Park and Joanne Dunn will recommend to creditors the company be placed into liquidation.
"This is because the Administrators must, by law, provide a recommendation within a very specific time frame, and there is currently no other option available," a spokesman for the administrators said.
"ATQ is continuing to operate and has not closed its doors."
The spokesman said a sale process would continue and flagged the possibility of the company's second meeting of creditors on August 27 being adjourned.
"The administrators are still seeking options with respect to the future of ATQ and are trying to finalise a sale, or orderly transition, of the organisation to ensure there is as minimal disruption to apprentices, their hosts and students, as possible," he said.
The meeting of creditors to decide the future of ATQ is schedule for 1pm on August 27.
It is likely the administrators will adjourn the meeting for a few weeks to allow sufficient time to finalise options.
Last month The Courier Mail revealed more than two-dozen parties signalled an expression of interest to purchase All Trades Queensland, which is among the nation's largest commercial training organisation.
Vantage Performance was engaged to run the aggressive sale campaign, with interested parties given access to the company's dataroom before first offers were due on August 5.
Originally published as All Trades Qld 'should collapse': Administrator