CSM Steel has entered voluntary administration, with 55 jobs at risk as stakeholders prepare for a creditors’ meeting next week.
The Adelaide Advertiser reports that the steel fabrication and roof maintenance company appointed Ferrier Hodgson as administrators.
Ferrier Hodgson Adelaide partner Martin Lewis said discussions were underway with key stakeholders, including CSM’s clients. An “urgent assessment” of the company’s position was being undertaken.
“At this stage, the administrators will be continuing work on the contracts whilst the company is in voluntary administration,” Lewis said in a statement.
“However, it is too early to assess the outcome of the administration.”