McGrathNicol has been appointed receivers to boat maintenance facility Sydney City Marine, Rozelle Bay.
In a statement, the company announced Murray Smith and Shaun Fraser as receivers and managers of the Sydney based facility from 5 April 2011.
'As receivers and managers we have assumed control of the company's affairs and have entered into possession of the company's assets,' said Murray Smith.'The business of the company will continue to trade as usual during the receivership. We intend to work with management of the company to continue the high quality service offered to customers and we look forward to your ongoing support.'
Spokesperson for the company, Anika Richardson, said they were currently assessing the situation and would make further details public within days.
More at www.mcgrathnicol.com