A Sydney-based company has purchased hardwood sawmills in Tasmania and South Australia from Gunns, which collapsed in September with debts of $500 million. Gunns' creditors include several Great Southern companies, who are owed up to $143,000, while two businesses with Albany branches are owed more than $1 million. Gunns' receivers say the money from the sales will help to pay its secured creditors but numerous local unsecured creditors say there is no hope of them recovering what they are owed.