'The Weekend Australian' of 10-11 March 2023 has a further article:Receivers of collapsed refrigerated logistics company, Scott’s, have warned of supermarket food shortages across Australia as it is forced to turn back truckloads of groceries at its depots.
($500 million of food is stored that) receiver KordaMentha is trying to clear and return to customers. At the same time, suppliers are still trying to deliver food to the failed company, given alternate refrigerated storage space is limited.
Scott Langdon of KordaMentha said supermarkets were likely to face shortages of fruit, vegetables and other groceries as a result, with regional areas expected to be the hardest hit.
“This is a very challenging situation and there is a real risk of supply chain disruption and shortages in shops – especially in regional areas such Far North Queensland, Mildura Hinterland, Riverina and Renmark,” Mr Langdon told The Australian.
“We have the situation where we continue to turn away trucks full of fruit, vegetable, garlic breads, pita breads and the like. And it’s not clear if they have anywhere else to go.."
--------------
The receiver then pitches for Federal Government financial assistance.
I don't agree: why should taxpayers be on the hock?
No mention of LAU in this article but assuming that the information isn't exaggerated, it's a serious situation. One can only reiterate LAU must be jolly busy, and its warehouses in demand for storage. I bet some LAU managers are working much longer than eight or 12 hour shifts!
You'd hope commonsense would prevail with cool stores of the former Scott's continuing to have access to electricity to keep the frozen and chilled items in saleable condition until these 114,000 pallets can be cleared by arrangement. But other transport companies (such as LAU) have to be paid for their cartage by road and rail.
- Forums
- ASX - By Stock
- Ann: Half Year Results Announcement
'The Weekend Australian' of 10-11 March 2023 has a further...
Featured News
Add LAU (ASX) to my watchlist
|
|||||
Last
88.0¢ |
Change
-0.040(4.35%) |
Mkt cap ! $274.9M |
Open | High | Low | Value | Volume |
92.0¢ | 92.0¢ | 88.0¢ | $472.7K | 525.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 5257 | 88.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
89.5¢ | 50000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 4176 | 0.880 |
2 | 22403 | 0.870 |
1 | 10000 | 0.860 |
1 | 50 | 0.855 |
3 | 3850 | 0.850 |
Price($) | Vol. | No. |
---|---|---|
0.895 | 50000 | 1 |
0.920 | 4542 | 2 |
0.925 | 51070 | 2 |
0.930 | 45550 | 4 |
0.940 | 12000 | 1 |
Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
Featured News
LAU (ASX) Chart |
The Watchlist
FHE
FRONTIER ENERGY LIMITED
Adam Kiley, CEO
Adam Kiley
CEO
SPONSORED BY The Market Online