Trucking company XL Express collapses after 35 years in business
The company had at one point thrived enough to take on a major co-sponsor role for the Brisbane Lions AFL team that included logo rights on the team's uniform. The business went into voluntary administration last Friday, along with 16 other related companies. FTI Consulting's 'Kelly-Anne Trenfield, Joanne Dunn and Ross Blakely have been appointed as administrators.
In a statement, FTI Consulting said that they are conducting an urgent assessment, to consider the continued viability of XL Express. 'Where services are unable to be fulfilled, arrangements are being made for customers to collect their goods held in XL Express Group distribution centres,' it said. The closure has sent shockwaves across a number of industries that the company did business with as concerns grow over shipping orders going unfulfilled.
Speaking to Daily Mail Australia, an insider in the publishing industry said it would impact their business. 'This is a disaster. We have outstanding customer orders, and now they're stuck in limbo.' they said. XL's demise follows just weeks after the collapse of another truck company Don Watson Transport.
After running for more than 77 years, that company ceased operating in June. The trucking industry has been under pressure in recent years as global tensions cause an increase in fuel prices, which is combining with labour shortages and increased government regulation. Scott's Refrigerated Logistics also collapsed in 2023, as did by Austrans Container Services in 2024.
Managing Partner of WA Insolvency Solutions, Jimmy Trpcevski, said he's seen an increase in insolvency appointments and inquiries from transport operators. 'Businesses are being squeezed from every direction, whether that's rising costs, labour shortages, or compliance pressures. Margins are incredibly thin.' Don Watson Transport covered an estimated 22million kilometres per year and operated depots in Sydney, Brisbane, Melbourne, and Wodonga.
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