Back to Say 'No' to Gunns Ltd Pulp-Mill!

Gunns enters administration

TASMANIAN timber company Gunns could struggle to find a buyer for its troubled businesses in a "hostile environment", an industry analyst said today.

Gunns has announced plans to appoint an administrator after failing to secure funds to keep the company going, putting more than 600 jobs at risk.

It had been seeking financial support to fund a restructure or capital raising, but its lenders were unable to provide any more money.

"As a result, the company is unable to continue trading and the directors are in the process of appointing an administrator," Gunns said in a statement today.

http://www.themercury.com.au/article/2012/09/25/362567_tasmania-news.html

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