Shark Lake Food Group's future pending

The future of a local abattoir will be decided today, after the slaughterhouse went into voluntary administration on February 24. 

At 12:30pm a second meeting of creditors will be held at the Esperance Bay Yacht Club.

The Shark Lake Food Group’s future will be decided as either the administration will come to an end; a deed of company arrangement, if proposed, will be accepted; or the company will be placed into liquidation. 

Shark lake Food Group declared they would go into voluntary administration to review their financial position, appointing administrators Philip Newman and David Charles Quinn, from Melbourne-based insolvency firm PCI Partners, to complete the process. 

“The proposal for a deed of company arrangement to allow the company to commence operating again is still being considered,” Mr Newman said.  

On Wednesday, March 8 Mr Newman travelled to Esperance to conduct the first meeting of creditors.  

The second meeting of creditors was held in early April and was adjourned to May 17.

He said both Mr Quinn and himself needed more time to formulate the proposal.

The company was one of the largest employers in region, with around 50 full-time and up to 60 casual workers. 

Melbourne-based Rami Koyu co-owns and runs the company with Esperance-based directors John Wildberger and John Reed.  

According to Mr Koyu record lamb and beef prices had resulted in a difficult time for the privately owned company. 

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