Animal ‘recycler’ in trouble as debts hit $1.79m
AN OUTBACK Queensland business turning animal by-product into useful materials has been put in administration with debts of more than $1.79 million.
Warrego Rendering Pty Ltd, formerly known as Australian Dehydration Technologies Pty Ltd, was put under the control of administrators Nigel Markey and Bradley Hellen on December 13.
A report on the Charleville company, authored by its director Roger Foxton, reveals $19,846 is owed to employees and $1.797 million owed to creditors.
Warrego Rendering converts animal by-products from the food processing industry into edible meat fractions for livestock, companion animals and fish, as well as pharmaceutical ingredients, tallow for soap, cosmetics and biofuels.
It continues to operate, with administrators tasked with determining the best way forward for the business.
Warrego Rendering's fourteen workers are owed hundreds of dollars in wages and thousands of dollars in superannuation.
Its creditors include $108,125 to Paul Stenzel and $26,503.55 to Cleanaway.
It has a $150,000 loan to Singapore's MPF United Pty Ltd and $978,726 to Swift and Company Trade Group.
Warrego Rendering lists $309,700 in assets including a forklift, pumps, a mincer, sheds and bins.
In December dozens of businesses were placed into liquidation.