Sam's Seafood appoints administrators13:59 AEST Sat May 21...

Sam's Seafood appoints administrators
13:59 AEST Sat May 21 2005
AAP
The board of battered Queensland seafood king Sam's Seafood Holdings Ltd has appointed administrators after its major financial backers called in receivers earlier this month.

Sam's said it had appointed Andrew Fielding and Juile Williams of PPB Chartered Accountants as administrators.

The move follows the appointment of Deloitte Touche Tohmatsu as receivers and managers by Sam's principal financier, Rabo Bank, after the seafood processor and retailer was unable to repay its debts on time.

Sam's secondary financier, ANZ Bank, has appointed McGrath Nicol and Partners as receivers and managers.


http://news.ninemsn.com.au/article.aspx?id=49603

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