Australias toll of failed construction industry businesses will climb further, data company CreditorWatch warned on Wednesday after a high-end home renovations business went into liquidation leaving 95 customers stranded, some without insurance policies the director was required to arrange before accepting money.
Ultimate Kitchens & Bathrooms went into liquidation owing unsecured creditors more than $4.6 million and it may have breached conditions of his operating licence by accepting deposits without having valid insurance cover, liquidator Stephen Michell said this week in a public report.
Out of pocket more than $52,000: Ultimate Kitchens customer Sam Martin. Eamon Gallagher
The companys fai…
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