August 26, 2005

Australian grain trader collapses

Australian grain merchant Creasy's Grain Enterprises went into receivership on Aug 17 due to debts of about AU$15-25 million.

The business was started in 1971 and in over 20 years, expanded into other parts of Australia such as Queensland, Victoria and New South Wales.

The company now owes to about 200 creditors, including regional growers and transport companies.