Debt mounts for business
RECEIVERS have taken over Cooroy Mountain Group – which includes Cooroy Mountain Spring Water – only one day after the company insisted it was “business as usual”.
The company, employing between 70 and 100 staff, has operated from Cooroy Mountain since 1991. It went into liquidation in June with debts of almost $1 million – more than $850,000 owed to the Australian Taxation Office.
Previously the group, also including Wimmers Soft Drink and Cooroy Mountain Transport, blamed the economic downturn.