Creditors of failed manufacturing companies Ballarat Windows and Doors and Lontana have been advised they are likely to be left high and dry, with the companies owing more than $1.7 million.
Ballarat Windows and Doors and associated company Lontana both went bust in 2017.
Ballarat Windows and Doors sold its business and assets to Lontana in late 2016, with the latter company agreeing to take over existing contracts and works in progress.
However both companies went into liquidation within a month of each other in September and October last year. A report prepared by liquidator Robert Woods stated Ballarat Windows and Doors owed unsecured creditors more than $1.7 million, however this may increase if creditors submit additional claim…
Read the full article at: http://www.thecourier.com.au/story/5192680/creditors-left-empty-handed-after-manufacturers-go-bust/