Our client was a transport company primarily involved in providing transport services as a subcontractor and suffered financial distress due to escalating fuel costs and an inability to reduce fix costs as market conditions deteriorated (both factors largely arising out of COVID-19).
Our client operated in the production and installation of steel frames in Victoria and fell into financial distress due to the global steel shortage, the increase in costs of materials and the level of fixed costs, during a period of reduction in revenue (both factors largely arising out of COVID-19).
CS Logistics Group was an international freight forwarding and warehousing group comprising CS Logistics and CS Warehousing and was placed into Voluntary Administration (VA).
Iflix MY’s revenue was mainly derived from subscription services and the sale of advertisements on the iflix Group platform.
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