Four Guzman Y Gomez stores have had their plans halted after being dragged into a multimillion dollar building company collapse.
Alex Turner-Cohen @AlexTurnerCohen 3 min read
December 24, 2023 - 2:20PM news.com.au
EXCLUSIVE
A building company has collapsed into both liquidation and receivership just days out from Christmas owing $3.7 million to hundreds of creditors.
Queensland-based Casa Building Group Pty Ltd, which is headquartered in Brisbane and also has an office in Townsville, appointed voluntary liquidators this Tuesday.
On Friday, Andrew Quinn and Domenico Calabretta of insolvency firm Mackay Goodwin took over as receivers, representing a secured creditor.
Casa Building Group was involved in the building of four Guzman Y Gomez stores in Queensland which have now been impacted — in Maryborough, Gympie, Murrumba Downs and Enoggera.
The Mexican fast food chain put through development approvals last year with plans to open some of the stores in 2024 but an insider told news.com.au that this was unlikely.
He said he doubted that the Gympie store, slated to open next February, would be finished in time “as they have only just laid down the slab” while over at the Maryborough site, he said he understands that it could be as much as 160 days behind schedule due to building delays.
A Guzman Y Gomez spokesperson also confirmed that two other businesses, GYG builds in Murrumba Downs and Enoggera, were also caught up in the construction collapse, but insisted GYG is “not financially impacted in any way” and said they did not expect the builder’s liquidation to have a “material impact”.
“Casa Builders were contracted by various landlords or developers to build a number of buildings where GYG has secured a lease,” a GYG spokesperson told news.com.au.
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