MORE than 50 Ballarat workers will be out of jobs by Christmas after CMI failed to find a buyer for its Ballarat factory.
The sale of the factory has fallen through, with no prospect of a buyer.
It will leave 51 employees of the car-parts manufacturer out of work.
AMWU assistant state secretary Leigh Diem said he had suspected the sale was going to fall through for some time, with the receivers reportedly hoping to sell the factory to an Indian company.
“We’re not sure exactly why the process has fallen through,” he said.
“I think that unfortunately there is no prospect of it being sold. There doesn’t seem to be any future prospects of a buyer.”
Unions and receivers will now work to ensure employees receive full entitlements under the government’s GEERS scheme and that they receive their redundancy payouts in full.
“We are confident of getting everybody their payouts. Being close to Christmas, it’s important that people get their payments.”
A written statement by McGrath-Nicol said operations would continue until November 30.
“The receivers and managers will work with employees, customers, suppliers, and other stakeholders to ensure that wind-down plans are implemented as smoothly as possible,” it read.
“Receivers and managers had exhausted all options for the sale of the Ballarat business and that it was disappointing for all concerned that a sale could not be achieved.”
Ballarat MP Catherine King expressed her sympathy towards those who had lost their jobs, but moved to reassure them the government was doing everything to ensure they found alternative employment and gained all their entitlements.
“I understand the company has been under financial pressure for some time and today’s announcement is a result of these difficulties,” she said.