While Holden workers consider their futures, transition training and redundancy packages, young South Australians working at mining services company Forge Group are simply stranded.
Forge was placed into voluntary administration at 1pm Tuesday after its financiers withdrew their support.
Adelaide-based workers who fly-in and fly-out to Forge’s project in the Pilbara have been left either stranded on the tarmac or out of pocket back home.
One worker told InDaily he was stuck in WA with no information.
“My site has been closed down and I’ve been given minimal information before I packed up tools,” the worker said.
“I’m being flown to Perth hopefully today by Rio Tinto and had my Adelaide flights cancelled and told to find my own way home while also not knowing if we will get last week’s or this week’s pay plus entitlements.”
Other workers used Facebook yesterday to let friends know of their plight.
“Yep as of about 1pm today forge was taken into administration..no idea how I’m getting home yet…will give u a call ASAP,” one worker said.
His colleague back in Adelaide was shocked.
“Holy s***; I’m one day away from getting my payout,” the southern suburbs father of one said.
“Payment was meant to be tomorrow; $8-10k just vanished!”
Shares in the troubled engineering group were placed in a trading halt on Tuesday ahead of an expected announcement to the market.
The administration comes less than a fortnight after Forge said it expected to post a full year loss of up to $25 million.
In December, Forge announced writedowns of $127 million associated with its Diamantina Power Station and West Angelas Power Station projects.
This led to an 84 per cent dive in Forge’s shares in one day and since November its stock has fallen 78 per cent on bad financial news.
Forge also scared investors in mid-January with a writedown of up to $28 million on the West Angelas project, sparking another share price plunge.
The company’s shares last traded at 91.5 cents.
The first meeting of creditors is scheduled to take place in Perth on February 21.
Make your contribution to independent news
A donation of any size to InDaily goes directly to helping our journalists uncover the facts. South Australia needs more than one voice to guide it forward, and we’d truly appreciate your contribution. Please click below to donate to InDaily.