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Tradies caught out in $1.3m collapse of firm gladstoneobserver.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gladstoneobserver.com.au Daily Mail and Mail on Sunday newspapers.
Experts are warning of more collapses due to a number of “zombie firms” still operating, as Queensland recorded another 46 business insolvencies in May. ....
Experts are warning of more collapses due to a number of “zombie firms” still operating, as Queensland recorded another 46 business insolvencies in May. ....
Retailers and builders among 25 company failures in January 2021 Business by Glen Norris Premium Content Subscriber only Food, transport and building companies were among 25 Queensland firms that collapsed into liquidation or administration in January. That was half the number of companies that failed in December but experts warn that the tally will likely increase in coming months as pandemic-related support measures are withdrawn. Hall Chadwick partner Ginette Muller said there could be an uptick in insolvencies once the Job Keeper program ended in March. We have not seen much of an increase so far but that could change when the Job Keep tap is turned off completely, Ms Muller said. The majority of insolvencies come from the smaller end of town and they are still beneficiaries of government largesse. ....
Late last year liquidators Hall Chadwick s Ginette Muller and Marcus Watters said in a report lodged with ASIC that a dividend was unlikely to be paid to any creditor and urged them to write off any debt owed by the company. It was in their view the company may have been insolvent or likely to become insolvent from at least July 2019 . They said Total Lifestyle Builders started to incur regular monthly net losses from as far back as August 2018 but still recorded an overall profit for the year ended June 20, 2019. However, the company made less profit and larger losses afterwards leading to an overall loss in the period up to June 18, 2020. ....