That line about no work is nonsense. You just took it hook line...

That line about no work is nonsense. You just took it hook line and sinker. There is work, they aren't finding it. Plenty of military work they could be trying to get into and plenty of residential/commercial work that needs custom steelwork. There are other options too but they aren't getting it. Either their overheads are too high, they can't work out how to run the plant efficiently or they don't realise there are people who need things outside the mining industry.

Nonetheless the lack of work is caused by one issue. Bradken's management.

Two other companies in a similar boat were Civmec and NRW. One worked it out and the other didn't. only the fittest survive, such is how the market works. Sadly, bradken were too well fed during the good times and forgot how the world normally works.