Brisbane-based XL Express, which went into voluntary administration in late June, has now gone into liquidation with more than $40 million in estimated debts.

XL Express appointed FTI Consulting on June 27 to conduct an “urgent assessment” of the company’s viability, which also includes 17 other entities under the company’s brand.

The group’s 200 employees were stood down after XL Express was locked out of its Smithfield premises in Sydney’s west in late June, due to rent not being paid, according to its administrators

An ASIC notice on Monday, August 4, confirmed creditors had voted to wind up the 17 associated companies under the XL Express group.

According to a News Corp report, the administrators estimated there were up to $41.9 million in total debts across the XL Express companies, including $5.3 million owed to 200 former employees and $3.4 million owed to the Australian Taxation Office.

NAB, Judo Bank and ScotPac were among the secured creditors and business lenders with the largest bundle of debts, totalling an estimated $18.9 million, the report from administrators Kelly-Anne Trenfield, Ross Blakely and Joanne Dunn of FTI Consulting said.

Other unsecured creditors were owed an estimated $12.4 million.

Manheim Auctioneers had been engaged to begin selling off the XL Express fleet of 193 vehicles before it went into administration.

The administrators also noted they were also aware of multiple injury compensation claims from employees, although they were still being processed by insurers.