Gordon Brothers sold to former owner

Gordon Brothers Industries, an industrial fridge maker, has been sold by Hastie Group's receiver, McGrathNicol.

Hastie collapsed and was put in Voluntary Administration on May 28.

Engineering group Hastie owed an estimated $600 million, the Sydney Morning Herald reports. “I am pleased to announce that, effective today, the trading assets of GBI have been sold to the GBI management team and the former owner Mr Ian Sleeth,” Matthew Caddy of McGrathNicol said.

Mr Sleeth is a former owner of GBI, which he sold to to Hastie in 2006.

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