Chilled-goods trucking company Scott’s Refrigerated Logistics has been placed in receivership, putting grocery supply channels at risk nationwide.
The company – which was bought by private equity firm Anchorage Capital Partners in June 2020 – supplies major supermarkets including Coles, Woolworths, IGA and Aldi, as well as Foodbank Australia.
According to reports, the business was affected by a range of problems since the pandemic including domestic floods and a spike in fuel prices due to the war in Ukraine, which resulted in its collapse.
Scott’s secured creditors have appointed specialist insolvency firm KordaMentha as receivers to seek a “new long-term owner”.
“We anticipate a high level of interest in this business and its assets, given its significance in the cold chain supply system in Australia,” Scott Langdon, KordaMentha partner, told News.com.au.
For the time being, the company will continue to deliver to supermarkets until its future is clear.
The company operates 500 trucks and employs 1500 employees, with depots in all state capitals complemented by a dedicated pickup and delivery fleet.
An Aldi spokesperson said: “The supermarket supply chains rely on many interdependent partnerships, and despite the challenges presented with this news, we are working with our suppliers and logistics partners to minimise impact to customers.”
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