Adelaide's CSM Steel goes into voluntary administration

Thursday, 18 Aug 2016 15:58:22

Adelaide steel fabrication and roofing maintenance company CSM Steel has appointed voluntary administrators.

Earlier this week the company's directors appointed administrators Martin Lewis and Tim Mableson of Ferrier Hodgson to assess the business's financial position.

The company has a workforce of up to 55 employees and sub-contractors.

Mr Lewis said in a statement an "urgent assessment" of the business's financial position, resources and project pipeline had begun.

"At this stage, the administrators will be continuing work on the contracts whilst the company is in voluntary administration," the statement said.

"However, it is too early to assess the outcome of the administration."

A creditors' meeting will be held August 25 in Adelaide.

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Adelaide's CSM Steel goes into voluntary administration

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