Liquidator for Toowoomba company 'hit hard'
A LIQUIDATOR has been appointed to wind up a 67-year-old Toowoomba company.
Family-owned Peters Coaches closed its doors last week after six decades of operation.
Shareholders of Peters Coaches, trading as RDP Enterprises Pty Ltd, voted to place the company into liquidation.
Toowoomba liquidator Adam Ward of Worrells Solvency and Forensic Accountants said the company was hit hard by the downturn in the resources sector over the past few years, and that attempts to refocus the business on the tourism industry had proved unsuccessful.
"They had increasing pressure from financiers... and as a result of numbers not stacking up, they've had to close their doors," he said.
"There's probably a shortfall of anywhere between $1.5-2 million.
"Probably about $1 million of that will be worn by financiers that had security over the bus fleets."
Only appointed as liquidator last week, Mr Ward said he was now dealing with the company's assets and informing creditors of the liquidation.