8 hours ago
Major Aussie freight company Don Watson Transport closes
A national freight company has shocked the trucking industry by announcing its closure after almost 80 years in business.
Don Watson Transport, one of the country's leading refrigerated logistics operations, announced late last week it would make its final collections on June 9 before its final deliveries.
The Victorian-founded company had 300 staff and also ran a coldstores business in Sydney, Wodonga and Melbourne, which are due to be put up for sale.
'We understand that this may come as a shock but we have formed the view that is simply no longer possible to continue to operate,' a memo to staff last week stated.
'To be clear, all employees will be impacted by this decision.
'All employees (that are made redundant) will receive all of their entitlements in full in accordance with the terms of relevant legislation and enterprise agreements.'
The company's 140 trucks and 170 trailers trucks would be sold in an 'orderly fashion', the memo stated.
Managing director Lyndon Watson, in a statement released to News Corp, said the closure had been a 'difficult' decision for his family after 77 years in business.
'The Watson family has benefited from the Australian trucking and warehousing industry over many generations, and we've tried to offer back time and effort in kind,' Mr Watson said.
'Thank you for the wonderful support you've offered Watsons over the years and we look forward to seeing the industry continue to develop.'
News Corp reported the company's 2023 financial year statement revealed it made a net profit of just $95,355 from $99.9m revenue.
The previous year, it incurred a $1.2 million loss on $84.7 million in revenue.
Big Rigs reported that Simon O'Hara, chief executive of Road Freight NSW, said Don Watson Transport's closure was a big loss to the industry.
'Our thoughts are with the operators Noelene and Lyndon and also their employees,' Mr O'Hara said.
