Sportswear maker Elite enters administration as ATO pursues tax debt
Australian sportswear maker Elite Sports Apparel entered administration on 27 October. The ATO moved to wind up the business.
Elite Sports Apparel supplied custom sports uniforms and workwear since 2013. It entered administration after tax office action.
Joint administrators Mitchell Ball and Gavin King from Mackay Goodwin were appointed on 27 October. The company owes the ATO an undisclosed amount.
Ball said the business is exploring a Deed of Company Arrangement, or DOCA. A DOCA is a legal agreement between a company and its creditors.
It lets the business keep trading while handling its debts. With a DOCA, creditors recover faster than they would in full liquidation.
The director is also considering selling assets or accepting a restructure proposal from another party. The company has manufacturing operations in Condell Park in Sydney's southwest.
It also has offices in New Zealand and Fiji.
- 27 October
- Entry date
- 2013
- Operating since
- Condell Park, Sydney
- Manufacturing base
- Amount not disclosed
- Tax debt
Why it mattersA DOCA may help creditors recover more than liquidation would. But the company's future is still uncertain. The number of affected staff is also unclear.
AustraliaLocal Australian manufacturing jobs in Sydney and potentially roles in NZ and Fiji operations are now at risk as the company navigates administration.
✓ Claims checked against the source. checked 2 h ago
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