A Sunshine Coast boat builder has gone into liquidation, reportedly owing more than $900,000.
In a resolution filed with the Australian Securities and Investments Commission on March 23, notice was given that R and S Marine Pty Ltd, formerly trading as Galeforce Boats, would be wound up and SV Partners appointed as liquidator.
An initial liquidators report lodged with ASIC by SV Partners reveals the companys total liabilities as $917,431. This includes $82,299 owed in employee entitlements and $278,852 to the Australian Tax Office.
The report lists the companys total assets as $200 in cash.
Documents state that the company was registered in November 2018 and manufactured boats from leased premises in Yandina.
The companys director is Sc…
Read the full article at: https://www.sunshinecoastnews.com.au/2023/05/05/im-down-56-grand-boat-builder-goes-bust/