THERE is still hope for troubled timber company Forest Enterprises Australia, Premier David Bartlett says, despite the Government rejecting the company’s request for a financial lifeline.
In a statement to the Australian Securities Exchange on Friday night, FEA advised that its call for support had not been approved and it would be going back to its financiers aiming to access funding for a restructure.
Share trading in FEA was first suspended in February after the company failed to renegotiate its $200 million financing facilities, throwing the company’s future and 200 jobs into doubt.
Mr Bartlett said yesterday that there were still options on the table.
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