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…
A Victorian based builder called Hotondo Homes Horsham, which was a franchisee of a national construction firm, has collapsed affecting a number of homeowners. The company had 11 homes under construction at the time of its collapse, while there are also 11 employees with outstanding entitlements. It is the second Hotondo Homes franchisee to go…
Australian luxury fashion retailer Harrolds has collapsed while owing more than $12 million. The four entities that make up the Harrolds Group were placed into liquidation at the start of October. In a statement provided to 9News, liquidator SMB Advisory put the department store’s collapse down to the difficult post-pandemic economy. A shoe display at…
The Australian Securities and Investments Commission (ASIC) said creditors have resolved to wind-up UGC and David Stimpson of SV Partners has been appointed as a liquidator. UGC withdrew its application regarding the cancellation of its Australian financial services licence, which was cancelled on 31 July, and the Administrative Appeals Tribunal (AAT) dismissed that application. An…
A sydney store owner has lashed out at “society” in a brutal note after the “heartbreaking” collapse of her small business. Last week, a letter was taped to the front door of The Source Bulk Foods in leafy Crows Nest in the city’s north, informing customers that it had closed down. The Source Bulk Foods…