Its been revealed that a building company that collapsed earlier this year had just $17.80 left in its bank account.
In July, news.com.au reported that Melbourne-based bespoke building company Avra Group (Aust) Pty Ltd had entered into liquidation.
A report prepared by Philip Newman of insolvency firm PCI Partners, the appointed liquidator, showed that the company owes around $1.2 million to around 37 unsecured creditors.
Avra Group owes staff around $24,000 in unpaid entitlements while other creditors include the Deputy Commissioner of Taxation owed an unknown amount, NAB and Westpac, Bunnings, a law firm and a number of tradies.
The company operated one bank account with the National Australia Bank which the director has advised held a …
Read the full article at: https://www.news.com.au/finance/business/other-industries/melbourne-builder-avra-group-collapses-into-liquidation-owing-12m-has-17-in-the-bank/news-story/dd367c1b2bbf1b8131a5c8be3d4ed612