News­pa­per in liq­ui­da­tion

Whitsunday Times - - LOCAL NEWS -

LIQ­UIDA­TORS ar­rived in Mackay on Mon­day to take con­trol of the fi­nan­cially-stricken Queens­land Me­dia Hold­ings Pty Ltd, pub­lisher of the Mackay Tele­graph news­pa­per.

The Tele­graph has been op­er­at­ing for less than two years and has been de­liv­ered to some homes in the Whit­sun­days in re­cent months.

A Mackay Court was told on Mon­day that one cred­i­tor was owed $270,000.

In­sol­vency man­age­ment com­pany BRI Fer­rier was ap­pointed liq­uida­tor of Queens­land Me­dia Hold­ings in the Mackay Supreme Court af­ter the com­pany's ad­min­is­tra­tor was de­nied an ap­pli­ca­tion for an ad­journ­ment to al­low for a pe­riod of ad­min­is­tra­tion.

BRI Fer­rier prin­ci­pal Moira Carter con­firmed on Tues­day that the level of debt was $1.5 mil­lion and said they had elected to trade the Mackay Tele­graph for a “fairly short time” with the hopes of sell­ing it to max­imise re­turn to cred­i­tors.

The Mackay Tele­graph and it’s pub­lish­ers have no as­so­ci­a­tion with the Whit­sun­day Times. The Whit­sun­day Times has been pub­lished weekly for al­most 32 years.

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