In short: perth builders Collier Homes was placed into liquidation earlier this week, after more than 60 years in operation. It is the latest in a series of building company collapses that have plagued the industry nationwide since the COVID pandemic. The WA government said it stood by its post-COVID stimulus packages that ‘turbo-charged’ the market.…
Former Australian fast bowler Brett Lee’s sydney Beer Co company owes nearly $10m to suppliers, documents show. Minutes of the first creditor meeting filed with the Australian Securities and Investments Commission show the beer company owed $9.76m to 64 creditors. The amounts include $1.3m to the tax office and $33,000 to former teammate Glenn McGrath’s…
Dyldam was once a towering force. Its apartments still line the streets and light up the skyline of western sydney. But for more than a decade, the Dyldam group has left a trail of misery behind it that includes bankrupt businesses, unpaid taxes, tradies denied payment for work they’ve done, suppliers ripped off, and anguished apartment…
Molly Rose Brewing, the Hot-Listed Collingwood bar and brewing company, went into liquidation this morning. Nic Sandery, who founded the company in 2017, announced the news via an Instagram post. “A combination of rapidly increasing costs of operations and a reduction in consumer sentiment have made our financial situation untenable and after exploring every possible…
Crown Group co-founder Paul Sathio, who lost control of the business when it was pushed into liquidation last year after 25 years of operation, finds himself a further $6 million out of pocket after failing to raise enough funds to buy one of his former company’s largest development sites. Crown Group, founded by Indonesia-born businessmen…
melbourne-based residential builder Kleev Homes Pty Ltd has been “wound up” this month, with liquidators appointed to dissolve the company. The decision to end the company was made at a general meeting of its members on July 5, according to a notice published by the Australian Securities and Investments Commission. Dozens of construction companies have…
A building company linked to underworld figure Mick Gatto has been targeted in an online campaign by sub-contractors who say the company has ripped them off after they did work on apartment complexes. Key points: The building company is accused of hiding money while refusing to pay workers The company told creditors it was struggling…
Grant Thornton have encouraged customers seeking refunds to get in touch directly, after some ticket-holders complained about being stonewalled. “I purchased a $200 ticket with them before lockdown and obviously never was able to go,” student Alanna Pow said. “I know they have gone into liquidation so would I even be able to get my…
The rescue plan, put forward by owners Nathaniel and Callum Reeve, has been signed off on by creditors who have settled for just 15c on the dollar. South East Brewing Company, which trades as Kaiju Beer, located in Dandenong South in the city’s southeast,
melbourne-based property developer Bensons Property Group has avoided being plunged into liquidation after creditors signed off on a rescue deal, settling for half of what they are owed. Bensons, which collapsed in December with more than 1000 homes under construction worth about $1.5b, owed creditors more than $811m. Among those owned money are builders, other…