In January 2024, FTI Consulting reached an agreement on sale terms with the CJ Quinn Group, thereby successfully concluding external administration on 12 February 2024.
More than 200 jobs at the Lisarow facility were preserved, with employee entitlements maintained and those who resigned or were terminated receiving full payouts.
Secured creditors received returns ranging from 35 cents to 100 cents in the dollar having regard to priority arrangements.
More than AU$4 million of unsecured creditor claims were paid to the Personal Property Securities Register and Creditors of Necessity.
Operations at Sara Lee’s Lisarow, New South Wales facility continued uninterrupted during the nearly four-month voluntary administration process while FTI Consulting restructured the business and workforce.
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