All Trades Queensland, the largest commercial employer for apprentices and apprentices in Australia, has taken over the administration.
The company’s managing director has appointed John Park and Joanne Dunn of FTI Consulting as volunteer administrators with immediate effect.
The administrators conduct an independent assessment of the company’s financial position and ongoing viability.
Mr. Park said that the trainees and trainees who are employed by the company will continue to perform their current functions and will be updated as management progresses.
“Administrators are aware that ATQ is a major commercial employer … and plays an important role in developing the careers of many artisans,” said Stark.
“Our goal is to maximize the prospects that business will continue through a market sale or recapitalization through a corporate agreement.
“ATQ has a solid competitive position and some attractive assets.
“Despite the recent challenges, the assets will be potentially attractive to other companies and potential buyers.
“We expect healthy interest.”
Minister of Education and Skills Development, Shannon Fentiman, said qualifications and education are a key priority for the Queensland government.
“The Ministry of Employment, Small Business and Education will work with ATQ to ensure that trainees, apprentices and students are supported,” said Ms. Fentiman.
“At this point, the student training continues, as does the placement of apprentices and apprentices with their guest employer.”
Administrators will provide a high-level update at a meeting of creditors scheduled for August 3.
.
