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ICRG North goes into voluntary administration

Northern Territory-based Mining services provider and freight forwarder, ICRG North, has gone into voluntary administration.

Northern Territory-based Mining services provider and freight forwarder, ICRG North, has gone into voluntary administration.Northern Territory-based Mining services provider and freight forwarder, ICRG North, has gone into voluntary administration.

ICRG North is the NT division of Perth-based ICRG West, which currently provides civil construction, freight forwarding and mining services for a number of Government projects in the region.

According to local newspaper, NT News, ICRG North owes $2.5m to unrelated creditors and $1.5m to related creditors, and the administration will threaten more than 50 local NT businesses.

A Creditors Committee issued a statement that said, “procurement of Northern Territory Government services is in crisis and ICRG has 10 business days to come back with a company agreement.”

“The department has been actively working with ICRG and the administrator to understand how a successful company got itself into this situation,” an Infrastructure Department spokesman said.

“We are working on how the matter can be resolved and understand the difficult situation the subcontractors face having undertaken the work and not been fully paid.”

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