AgriFlex and Centrex (ASX:CXM) - Voluntary Administration

AgriFlex, which operates the Ardmore phosphate mine near Dajarra in North West Queensland, and parent company Centrex (ASX:CXM) entered voluntary administration on 3 March.

The move follows months of rumours that contractors were not being paid. Centrex voluntarily suspended ASX trading in December as it sought to negotiate with its logistics provider and raise capital. It’s not currently clear whether any jobs will be affected by the administration.

This is the second blow for secured creditor Aurizon, owed a collective $50 million by AgriFlex and Whyalla Steelworks operator OneSteel, which collapsed into administration in February.

John Park and Joanne Dunn of FTI Consulting are the voluntary administrators.