QUEENSLAND companies are collapsing by the dozen as the nation’s businesses head towards an economic cliff when COVID-19 support ends.
In the final month of the financial year, 63 Queensland companies collapsed into liquidation or administration.
The numbers remain below the average monthly collapses, which hovered around 100 per month prior to COVID-19.
Liquidator Brendan Nixon of SM Solvency said the virus and associated lockdowns had already sealed the fate of many companies.
“Most of our recent liquidations from April onwards have had a cause of the company’s demise being attributed, at least partly to COVID-19,” he said.
“It’s the lockdowns, the travel restrictions and the inability to trade, particularly in hospitality, as usual.”
However, he said the ‘insolvency tsunami’ predicted for October would not come until June 2021, with lead-up to Christmas this year resulting in high consumer spending.
Government payments are due to run out in September, but pressure is building on the Morrison Government to ease businesses off support.
“It’s built an underbelly of zombie companies,” Mr Nixon said.
He encouraged small and medium-sized business directors to speak to SM Solvency liquidators if their financial situation was dire.
“There are insolvency professionals such as us who are prepared to work with directors in tough situations,” he said.
“Liquidation doesn’t have to be expensive.”
Original source: https://www.couriermail.com.au/business/63-companies-collapse-into-liquidation-administration-in-june/news-story/ca2a00bee1f15eff994fe00d3a1f7972
June Liquidations
Few and Far Collective Pty Ltd
ACN: 168 084 946
Met Marine Pty Ltd
ACN: 154 058 947
Hotshot Transport Queensland Pty Ltd
ACN: 168 943 744
Henderson Matusch Pty Ltd
ACN: 107 343 091
My Mistress Pty Ltd
ACN: 602 681 569
Laurcam Pty Ltd trading as ATF Laurcam Family Discretionary Trust
ACN: 608 117 415
Hargunn Ana Pty. Ltd.
ACN: 614 618 656
Quaack Services Pty Ltd trading as Formerly trading as Flugente
ACN: 143 660 404
Ecogiene Pty Ltd
ACN: 630 376 000
KHAN ABRO ENTERPRISES PTY LTD trading as Coco Bliss Daisy Hill
ACN: 619 697 353
Lantle Group Pty Ltd
ACN: 624 900 983
NIAGARA OCEANIA PTY LTD
ACN: 628 155 671
Hobson Constructions (Qld) Pty Ltd
ACN: 010 817 179
Patrick Property Investments Pty Ltd
ACN: 075 692 803
Total Lifestyle Builders Pty Ltd trading as Formerly trading as “ Lifestyle Kit Homes”
ACN: 110 355 372
Phoenix Global Australia Pty Ltd
ACN: 153 702 455
FUSED ENERGY IP PTY LTD
ACN: 620 868 215
ZH Flooring Pty Ltd
ACN: 603 195 518
CAMALIC PTY LTD
ACN: 101 962 798
WOODFORD DEVELOPMENT GROUP PTY LTD
ACN: 600 997 760
GAS GROUP MANAGEMENT PTY LTD
ACN: 621 749 273
Tikep Pty Ltd
ACN: 611 821 955
PURPLE HIRING AUSTRALIA PTY LTD
ACN: 004 734 249
Mewett Constructions Pty Ltd
ACN: 069 123 324
WJ HOSPITALITY PTY LTD
ACN: 632 596 206
Morton Berg Pty Ltd
ACN: 106 170 576
JJ Loz Pty Ltd trading as Le Snacks Fine Foods
ACN: 609 611 592
BAVARIA SAIL PTY LTD
ACN: 158 144 622
BAVARIA POWER BOATS AUSTRALIA PTY LTD
ACN: 158 144 088
DGM Group Pty Ltd
ACN: 163 488 695
Indigo Field Industrial Relations Pty Ltd
ACN: 139 628 194
THE MASTA GLAZIER PTY LTD
ACN: 604 873 314
Hill Michael Associates Consulting Pty Ltd
ACN: 086 347 300
CN5 PTY LTD
ACN: 625 524 307
George Tyre Services Pty Ltd
ACN: 608 447 221
Austrecruit International Pty Ltd trading as The Little Cube
ACN: 127 408 422
NEWSTAR PROPERTY PTY LTD
ACN: 097 033 666
WK Carrigan Pty Ltd
ACN: 621 201 241
Flavour N Spice Pty Ltd
ACN: 169 307 911
IPSP Billing Pty Ltd
ACN: 139 716 546
JORYN PTY LTD
ACN: 617 979 683
CERTICA CMO PTY LTD
ACN: 135 637 768
CQ4 PTY LTD
ACN: 625 503 013
CS5 PTY LTD
ACN: 625 502 874
CV3 PTY LTD
ACN: 625 502 990
CW3 PTY LTD
ACN: 625 502 838
ADTECH BUILDING GROUP PTY LTD
ACN: 605 117 084
Australian Insulated Glass Pty Ltd trading as Australian Insulated Glass
ACN: 166 153 395
THOMSON FAMILY BUILDERS PTY LTD trading as Lifestyle Renovations QLD
ACN: 634 401 282
O‘FLYNN BUILDERS PTY LTD
ACN: 615 447 213
Love Lending Services Pty Ltd
ACN: 155 002 225
ASAP Developments Pty Ltd
ACN: 618 879 520
Successful Finance Solutions Pty Ltd
ACN: 168 791 142
June Administrations
INTELLIGENT INFRASTRUCTURE SOLUTIONS PTY LTD
ACN: 609 630 800
Tansacha Pty Ltd (Administrator Appointed)
ACN: 161 395 295
Hercules Northshore Pty Ltd
ACN: 146 311 659
Crystal Blue Group Pty Ltd trading as Crystal Blue Commercial Loans
ACN: 158 839 046
JMS Metal Roofing Pty Ltd trading as ATF JMS Trust
ACN: 620 883 632
MORETON RESOURCES LTD
ACN: 060 111 784
MRV METALS PTY LTD
ACN: 610 100 402
MRV TARONG BASIN COAL PTY LTD
ACN: 160 645 607
MRV SURAT BASIN COAL PTY LTD
ACN: 104 226 431
MRV BOWEN BASIN COAL PTY LTD
ACN: 155 597 587
