BRISBANE-based company HX Food Groups (Aus) Pty Ltd has gone into liquidation, owing a total of $3.56 million to six creditors in Queensland, three in New South Wales, and one in Victoria.

Qld suppliers are owed $2.6M, and Grain Central understands this is tied to containerised sorghum exports.

Jirsch Sutherland Brisbane-based director Chris Baskerville was on Friday appointed as the company’s liquidator by the Australian Securities and Investment Commission.

This followed the filing of a claim by one of HX Food’s creditors in the Qld Supreme Court in May.

“China was the company’s only trading partner for sorghum,” Mr Baskerville said in a statement.

Qld suppliers are owed $2.6M, or 73 percent of the total amount.

Grain Trade Australia advised its members via a notice issued yesterday of HX Food’s situation.

Mr Baskerville said HX Food creditors do not include banks or the Australian Taxation Office, but do include BMW Australia Finance.

“As this is a liquidation, a creditors’ meeting isn’t required.

“However, we are required to provide a statutory report to creditors three months from our appointment.”

With regard to employee entitlements, around $10,500 is owed to related parties, namely the current director and his wife.

HX Food’s registered address is in a residential neighbourhood of Eight Mile Plains, a southern suburb of Brisbane.

On its website HX Food markets itself as trading in wheat, oats, sorghum, and barley.

According to ASIC records, Chinese-born Fuqing Zhao is HX Food’s sole director, and was appointed in 2015.

Sources have advised Grain Central that HX Food had until recently been a reliable counterparty on sorghum and wheat for export.

 

Grain Central: Get our free news straight to your inbox – Click here