We don't want to revel in others; misfortune but this news just...

We don't want to revel in others; misfortune but this news just in on 'The Australian' website may be a major opportunity for LAU, something that outsiders like me would never have guessed would occur:

"One of Australia’s biggest trucking companies, Scott’s Refrigerated Logistics, has been plunged into receivership, threatening 1500 jobs and supermarket supply chains.

ScottsRL supplies all major supermarkets, including Woolworths, Coles, IGA and ALDI as well as Foodbank Australia. It is understood the company has engaged in high level talks with grocery executives about its collapse.

Supply chain disruptions from pandemic-fuelled labour shortages and wild weather have been one of the key drivers of grocery inflation as well as stock shortages. It is expected ScottsRL’s collapse will be one of many this year as the Reserve Bank’s nine consecutive interest rate hikes begin to bite.

Private equity firm, Anchorage Capital Partners, bought ScottsRL and its fleet of 500 trucks and 450 rail containers in mid-2020 from ASX-listed car dealer AP Eagers.

It appointed McGrathNicol as administrator on Monday afternoon. The move comes two months after Anchorage bought David Jones – Australia’s highest profile department store – from South Africa’s Woolworths Holdings for $100m.

But soon after Anchorage engaged McGrathNicol, ScottsRL’s secured creditors appointed Melbourne-based insolvency firm KordaMentha as receivers. It is hoped that a buyer can be found for the business, which employs about 1500 staff plus subcontractors and has 24 cold storage warehouses in all Australian mainland states.."