Latest news with #MyronMann
7NEWS
7 days ago
- Business
- 7NEWS
Disability employer Bedford Group makes shock voluntary administration announcement
One of Australia's largest disability employers has announced its 'devastating' decision to put it's multi-million dollar company into voluntary administration. Bedford Group made the announcement on Thursday, confirming it may affect up to 1400 staff across South Australia. The group is the state's second-biggest disability employer. Bedford is a not-for-profit that has been operating in SA for more than 80 years, employing people with a disability to work across various industries, including manufacturing, landscaping, hospitality and cleaning. Since the NDIS was established, the disability non-profits had struggled, CEO Myron Mann and Board Chair Janet Miller said in a statement obtained by They also pointed to the federal government as contributing to the state of the company. 'Despite this forward-thinking and a strong balance sheet of $47m in net assets, we have faced more recent challenges with cashflow,' Mann and Miller said. 'This has restricted our ability to operate and to access more working capital to realise the sustainable future we are working so hard towards. 'Bedford alongside almost 70 per cent of registered NDIS providers have faced financial challenges since the introduction of the NDIS. We recognised the need to be proactive in the face of these challenges in 2022 and subsequently developed our Future Bedford strategy to build a sustainable future for our community. 'We have been working to identify ways in which we could access working capital to ensure our future, however recently and following an exhaustive negotiation process with both State and Federal Governments in addition to our banking partner NAB; we have found ourselves in a difficult position. 'While the South Australian government has been sympathetic to our situation, they require the Commonwealth Government to fund at least half of the required amount we need to remain operational and the Commonwealth Government will not provide this aid. 'As such, today Bedford is devastated to announce that on Monday 28 July 2025 the organisation is expected to enter voluntary administration due to the lack of Commonwealth support.' A federal government spokesperson said Bedford Group had received more than $40 million in NDIS funding since April 2024, and that they were supporting discussions between the company and state government, according to the Adelaide Advertiser. Premier Peter Malinauskas said the state government would continue to work with Bedford Group, and that he will meet with company leadership on Friday. 'For some weeks, there have been active discussions between the state government and Bedford regarding its financial situation,' he said. 'There is no doubt that this is a very worrying time for people with disability who rely on Bedford, and I want them and their families to know that I will be doing everything I can to assist and support them through this challenging period.'
ABC News
7 days ago
- Business
- ABC News
Disability employment provider Bedford to go into voluntary administration
Disability support service and employer Bedford will go into voluntary administration in the coming days. In a statement it said that, after an "exhaustive negotiation process with the state and federal governments, banking and commercial partners NAB", it had advised its clients, families and staff that the organisation was expected to enter voluntary administration on Sunday, July 27. The statement said the "heartbreaking" move would "directly impact 1,400 people with disability across South Australia". Bedford CEO Myron Mann said it remained "steadfast in our commitment to supporting each of our clients, residents and staff during this challenging time". "It is a devastating situation with vast personal impact," he said. "Bedford provides a haven for so many South Australians and has done so for the past 80 years. "It is an incredibly disappointing outcome not only for Bedford but for the national disability sector." He said the organisation had tried to drive change and innovation to remain financially sustainable, but "the magnitude of challenges faced, particularly in relation to the supported employment model, remain complex to navigate and unprofitable for organisations".
