Australian logistics operator XL Express has entered voluntary administration, with advisory firm FTI Consulting appointed to manage the process and assess the future of the company.
The Queensland-based business, established in 1990, has built a national footprint in road transport and distribution over more than three decades. It is best known for operating a broad logistics network and for previously partnering with the Brisbane Lions AFL team as a co-major sponsor in the 2020 and 2021 seasons.
On 27 June, FTI Consulting was appointed to administer 16 entities linked to XL Express, including XL Express (Operations) Pty Ltd, XL Express (Distribution) Pty Ltd, XL Logistics Pty Ltd, TL Distribution Pty Ltd, and others trading under the XL Express Group banner.
The reasons for the move into administration have not yet been disclosed. FTI Consulting stated that it is undertaking an “urgent assessment” of the companies’ financial position and is developing contingency plans in response.
In a public notice, the administrators confirmed that customers whose services cannot be fulfilled will be able to collect their goods from XL Express distribution centres.
A first meeting of creditors is scheduled to take place before 9 July, at which further details are expected to emerge.