Bathla Group faces imminent shutdown without emergency $20 million funding

After Bathla Group failed to service debts exceeding $3.2 billion, administrators from Teneo were installed last Tuesday. In a press briefing, senior managing director Stephen Longley explained that the company has no cash to cover wages or supplier bills and cannot survive beyond Thursday without a $20 million rescue package. The firm’s 350 staff have not received pay for eight weeks, and Teneo has already borrowed $1 million from its head office to keep basic expenses like vehicle registrations and utilities running.

The New South Wales government declined to offer a lifeline, prompting hopes that another investor might step in. Without new funding, administrators said closure would be the only option.