A leading home extension and renovation business has gone into liquidation owing more than $1 million and there may be more to come.
Chris Herde, The Courier-MailSubscriber only|June 24, 2020 3:26pm
MORE IN BUSINESSJob losses ‘likely’ at reborn Virgin AustraliaBoss of aggressive short-seller firm steps downMajor players lodge last-minute bid to stop Virgin sale
A CONSTRUCTION company that billed itself as Brisbane’s premier home extension and renovation business is being wound up after going into liquidation owing more than $1 million.
Total Lifestyle Builders Pty Ltd is insolvent and appointed Jarvis Archer from Revive Financial as liquidator on June 18 to wind up its affairs.
Bulkbuild administrator ousted as debts rise to $4m
Homes unfinished, subbies chase cash in latest builder fiasco
Builder goes into liquidation leaving subbies unpaid
Mr Archer said according to a report on the company’s activities and property provided by Total Lifestyle Builders’s sold director Allan Ernest Stroud it owed $1,049,950 to unsecured creditors.
“Of this total, $610,000 is owed to the director who has advised he provided personal funds to the company,” he said.
“The balance of $439,950 is owed to unrelated creditors including the ATO, various suppliers, subcontractors and other trade creditors. of the company.
“As our investigations progress and creditors submit their claims we expect that the total creditor pool will increase.”
Leave a Reply
You must be logged in to post a comment.