Centrex appoints voluntary administrators
Phosphates and potash company Centrex has entered voluntary administration, appointing John Park and Joanne Dunn of FTI Consulting as joint and several voluntary administrators.
In a statement on Tuesday, the company confirmed that its subsidiary, AgriFlex, has also been placed under voluntary administration, with Park and Dunn assuming the same role for the subsidiary.
The voluntary administrators are continuing to operate the businesses of Centrex and AgriFlex while assessing potential restructuring options.
Centrex, which has been developing the Ardmore phosphate project in Queensland, did not provide any more details.
On January 14, the company announced the launch of a A$10.4-million entitlement offer, to raise a minimum of A$9-million.
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