The future of Latrobe Valley workers at HRL Limited is uncertain after the company was placed into voluntary administration this week.
HRL Limited owns the Morwell briquette factory and power station at Energy Brix Australia Corporation.
The company also owns HRL Technology, an engineering, consulting and testing arm which has an office on Tramway Road in Morwell.
HRL has 12 sites and employs about 500 staff nationwide.
PPB Advisory was appointed as voluntary administrator of HRL Limited and its associated entities on Tuesday.
According to PPB Advisory, a large portion of the workforce will continue with the company while the administrators undertake an urgent assessment of the business and liaise with parties expressing an interest in the purchase of the business and assets as a going concern.
“In our role as administrators of HRL Limited, we will be capitalising on the work already underway, including the potential sale of existing parts of the group as a going concern,” PPB Advisory partner Stephen Longley said.
“I’d like to recognise the efforts of the directors and management team of HRL who have made every effort to restructure the group and undertake a sales process. We intend to build on this to achieve a positive outcome for stakeholders.”
The administrators intend to visit each operational site in the coming weeks and will work closely with HRL staff.
More information is available to customers, suppliers and employees of HRL under the Creditors Information section of PPB Advisory’s website at www.ppbadvisory.com