A homeowner left financially ruined from millions of dollars worth of building defects in her apartment block is disappointed that the government has rejected her plea for early access to her superannuation. Tamara Railton-Stewart, 48, believes she has now exhausted most of her options to scrape her way out of a lifetime of debt. The…
A popular Australian designer whose empire has been pushed into liquidation after owing more than $1 million to the Tax Office has been slammed by furious brides who fear they may lose their wedding gowns. Supreme Court Justice Paul Brereton gave sydney-based designer Johanna Johnson time to convince the court she has a plan in…
A builder and kitchen renovations company servicing melbourne’s leafy inner-eastern suburbs have added to the growing list of construction insolvencies hitting boutique companies servicing wealthy clients. Builder Warwick Constructions went into administration in late October, followed four days later by fellow Hawthorn East-based renovations business Ultimate Kitchens & Bathrooms, when director Jeff Richards appointed a…
It is expecting to report a deeper loss for the 2024 financial year in the range of between $15 million and $20 million, partially driven by disruptions from a botched technology migration project involving a new logistical supply chain platform. This impacted Mother’s Day trading to a degree that was “greater than expected”, delaying the…
Another building company has collapsed, leaving homeowners, tradies and staff in limbo with debts of $3.5 million. News.com.au can reveal that last Thursday, Alpha Building Group Pty Ltd went into liquidation. All staff have been sacked and 10 homeowners across the Greater melbourne area have been left with unfinished projects following the company’s demise. Brent…
Webster Computer Systems, an Intel, Microsoft and HP reseller whose history stretched back to 1970, has been bought out of liquidation by sydney-based Fourier Technologies. Fourier announced the buyout on last month after it placed the highest bid for the failed Sydney-based company, which fell into liquidation after the Deputy Commissioner of Taxation filed a winding-up…
The director of a childcare company that plans to acquire 31 underperforming centres from G8 ran another childcare venture that went broke late last year, owing almost $5 million rent to a landlord. Darren Misquitta, director of Genius Childcare, was also accused of failing to supply key financial records to a liquidator, according to a…
Trade suppliers are furious as Whirlwind is officially put to death, with the company being placed in liquidation. Both parts of the business, melbourne and sydney, are now in the hands of Andrew Hewitt and Ahmed Bise from Grant Thornton. Total debt is unknown, but two paper merchants both have more than $1m of invoices…
A caravan builder based in melbourne has collapsed into liquidation with estimated debts of up to $1 million. Highline Caravans Pty Ltd, located in the outer suburb of Campbellfield, went into voluntary liquidation this week according to a notice published on ASIC. The company went bust potentially owing between $700,000 and $1 million. Early reports…
Property scion Daniel Grollo has avoided the humiliation of his collapsed Grocon construction empire being liquidated after the tax office and creditors of 88 failed companies voted to accept an arrangement that will see small creditors and employees paid out. Creditors met on Thursday to vote on Mr Grollo’s proposal for an amended Deed of…