A melbourne-based building company has collapsed with approximately $1 million in outstanding debt owed to 50 creditors, according to the liquidators.
The construction firm called Blint Builders Pty Ltd went into voluntary liquidation after news.com.au revealed a number of homeowners were experiencing a âhorrendousâ amount of stress as they had poured hundreds of thousands of dollars into half finished homes that had sat untouched for months.
Cliff Sanderson from insolvency firm Dissolve has been appointed to handle Blint Builderâs liquidation.
Mr Sanderson said Blint Builders owner Michael James had told him that the company had âceased to tradeâ.
âIn our conversations with him, which are yet to verified, he told us there are 50 creditors with approximately $1 million in debt and I expect that number to go up and the money will go up in excess of that,â he told news.com.au.
âHorrendous strainâ
Mr Sanderson said he was also told that âhalf a dozenâ homeowners were impacted by Blint Builderâs Pty Ltd demise, but was waiting on more information to be supplied by the builder.
One family impacted are Dean and Nolle Fuller, who have five kids between them, and have already shelled out $480,000 to Blint, since…
