Up to $700,000 of debt owed to building suppliers is likely to go unpaid, according to liquidators of Ballarat-based residential builder Bond Homes.
Key points:
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Ballarat home builder Bond Homes was liquidated in early September
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The company owes up to $700,000 to suppliers
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Bond Homes’ asset value is about $300,000, which will go to employees as priority creditors
Administrators overseeing the closure of the failed company are selling off assets, including a display home, in an attempt to pay the company’s bills.
But they say the recuperated funds fall well short of accrued debt.
Bond Homes entered voluntary administration in late July after nearly 30 years of trading, and creditors voted to liquidate the company in early September.
The comp…
Read the full article at: https://www.abc.net.au/news/2023-09-25/bond-homes-creditors-report-liquidated-ballarat-builder/102889200