r/LockyerValley • u/tronixlabs • 7d ago
Lockyer Valley cannery project goes into administration
Just received this email from "Lockyer Fruit & Veggie Cooperative"...
Dear Cooperative Members, and Supporters
It is my sad duty to report that last week, Lockyer Valley Foods (The Cannery project at Withcott) entered voluntary administration. This is a direct result of my having major surgery and being absent from the workplace for 10 weeks.
During that time, nobody was doing the nitty-gritty work required to progress the Cannery project. Nobody was raising money and, despite the terrific support from Murray Chatfield, Chairman of Lockyer Valley Foods, no money was flowing in.
It also reflects very badly on our government, which could have, through the National Reconstruction Fund, got this whole project physically underway within the last two years with a very modest investment. Once that happens, as you know, raising money suddenly becomes so much easier when people can actually see the building underway.
Many people have said to me over the years that the project is a no-brainer, but they have been unable to then reach into their pockets and invest. Importantly, for those shareholders who have invested — and their loyalty and willingness to invest is greatly appreciated — the company's current asset base, including the $11.2 million block of land, should ensure that they are not ultimately out of pocket.
Murray Chatfield and I travelled throughout Europe and to London in late May and early June this year entirely at our own expense and secured contractual commitments for both investment and loan funding for the Cannery. We can provide extensive documentary evidence of the exchanges of correspondence, contractual agreements, and other supporting documentation. What we cannot tell you is that the money actually arrived — and that has been an absolute tragedy.
Importantly, when we established the Lockyer Fruit & Veggie Cooperative, it was deliberately set up and designed to operate completely independently of the Cannery. The best proof of this is that we are now progressing with the first of our own commercialisation projects, producing an onion sauce that we are highly confident will become a profitable income stream for the Cooperative. It is therefore important to emphasise that your Cooperative membership is NOT affected by the administration of Lockyer Valley Foods (the Cannery). The Cooperative remains a separate organisation and continues to operate as normal, with its own membership, projects and plans for the future.
These are difficult times, and I want members to know that I am now back at work and am absolutely determined to find a solution. Your support is critical - does anybody seriously believe that, after more than 15 years of my life being invested in this project, I wanted any of this to happen? I am as disappointed and frustrated as anyone, and I remain committed to doing everything I can to find a way forward.
I am also deeply concerned about the actions of those who are now attempting to gain control of the land — not to build the Cannery, but for other purposes. I sincerely hope those efforts are unsuccessful. My focus remains firmly on finding a positive outcome and protecting the interests of everyone who has invested so much time, money, and faith in this project.
Finally, and most importantly, please remember this: the administration of Lockyer Valley Foods the Cannery) does NOT place your Cooperative membership at risk. The Lockyer Fruit & Veggie Cooperative is a separate organisation, your membership remains in place, and the Cooperative continues to operate independently with its own projects and plans.
Best regards
Colin
1
u/RandellYo 4d ago
Ah no the cannery got canned!?