CREDITORS of a century-old Ipswich manufacturing business which went into administration two years ago are set to receive what is owed to them in full.
Claypave Pty Ltd went into voluntary administration in March 2019 owing $4.9 million to the Commonwealth Bank and $70,000 to trade creditors.
It had accrued liabilities of $2 million in employee entitlements.
Former Claypave owner John Piele.
The business formally ceased trading in July last year.
It was originally called Rylance Collieries and Brickworks and began operation in the 1880s with its plant built in Ipswich in the 1930s.
Its last owners took over in 1985 and they sold clay bricks and pavers to clients nationally while also exporting products, predominantly to Japan.
Cl…
Read the full article at: https://www.qt.com.au/news/good-news-for-creditors-of-century-old-manufacture/4247805/