MORE jobs were lost in Ballarat this week as electrical contractor ABN Electrical went into administration.
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The job news came after Telstra’s shock announcement on Wednesday that 78 Ballarat staff would be axed by April.
In a week that brought only bad news on the job front, The Courier understands a number of IBM employees were also told of potential cuts that would occur over the next few weeks.
ABN Electrical officially closed its doors on Thursday, with sev-
eral subcontractors allegedly owed thousands of dollars.
One subcontractor employed by ABN Electrical over the past few years said he was “sickened and enraged” by the behaviour of the company’s management, conceding that he would lose “thousands of dollars”.
“Being a subcontractor engaged under a commercial arrangement, I obviously have no protection whatsoever.
“Administrators and banks will have first dibs at whatever is left after the inevitable stripping of assets, leaving unsecured creditors with nothing.”
Director Brad Yarwood responded to an email from The Courier and admitted his company’s closure and subsequent administration was a tough time for all parties involved.
“As I’m sure you can understand, it is a very tough time for everyone. We have also been on the other side of the fence, so I understand the disappointment and frustration that people are feeling,” he said. “We have worked very hard to save the company but unfortunately could not.”
patrick.byrne@fairfaxmedia.com.au