THE failed real estate venture of Ocean Grove entrepreneur Taylor Dow owes more than $280,000 to creditors, according to ASIC documents.
Documents lodged with the corporate watchdog reveal the Taylor Dow Property Group owes $29,000 to melbourne-based developer SMA Projects and $27,500 to Queensland-based Property Solutions.
More than $66,600 is owed to the Australian Taxation Office and $20,500 to two employees, according to a creditors list seen by the Geelong Advertiser.
Mr Dow — the mastermind behind a tea business that turned over $10,000 a week in 2014 when he was aged just 17 — owes money to 19 creditors.
Official documents lodged with ASIC show the Taylor Dow Property Group is in turn owed $198,000 by three debtors.
Mr Dow, 21, said he put his company into liquidation after two major property developers owing money to his company went into liquidation.
“Despite engaging debt collectors and trying my utmost to recoup the huge funds owing to the company, and after seeking legal advice I had no choice but to place the company into voluntary liquidation,” he said in a statement.
“This does not sit easy with me. I hope the liquidators will be successful in gaining the owed funds to the company to then repay any…
