THE contentious Cubbie Station which carries the label of being Australia’s biggest cotton producer, if not one the largest in the world, has failed to attract a bid acceptable to its administrators.
However, there are media reports that Cubbie is now hopeful of trading its way out of administration after floods in South West Queensland have filled some of its many water storages.
McGrathNicol said the expression of interest phase was closed after potential buyers failed to lodge acceptable bids for the south west Queensland farm.
The company was appointed voluntary administrators of the corporate group that owns Cubbie Station and related farming operations in Dirranbandi and St George in October, 2009.
The 93,000ha enterprise reportedly carried an asking price in the vicinity of $450m.
Late last year the Balonne Shire community voiced its concern over any move by the Federal Government to come in and buy Cubbie Station.
It worried about a possible close down after the NSW and Canberra teamed to buy Toorale Station in a bid to increase flow rates in the Murray-Darling river system.
Long-standing fears about Cubbie’s future remain a top-of-mind issue for nearby townships concerned about their future - especially employment prospects.
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