Dowling Homes has fallen into liquidation after more than 30 years operating across Adelaide
CLOSE to 70 tradies, suppliers and other creditors are unlikely to recover debts owed by the latest South Australian building company to collapse.
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CLOSE to 70 tradies, suppliers and other creditors are unlikely to recover debts owed by the latest South Australian building company to collapse.
Liquidators have been appointed to home renovations and extensions specialist Dowling Homes, which racked up debts of close to $500,000.
BRI Ferrier’s Maris Rudaks was appointed as liquidator on Friday.
Mr Rudaks has commenced an investigation into the issues that led to the collapse of the Unley Park company, suggesting it had been unable to manage a period of rapid growth.
“The company had been in business for about 30 years - it’s not a fly-by-night operation,” he said.
“We’re still in the process of collecting the books and records and working out why it’s got into problems but it seems to be that it grew quickly from where it had started.
Dowling Homes was established by the Dowling family more than 30 years ago, completing home extensions and renovations in blue ribbon suburbs across Adelaide.
Mr Rudaks said five projects remained incomplete, while the company’s single employee had been paid all entitlements.
“We’re getting in touch with the home owners and it will be a matter for HIA Insurance to organise for completion of those contracts,” he said.
“We’ll carry out investigations to see if there are any claims against the director or preference payments and report to creditors within three months.
“I still need to have a look at all the books and records but I am told that earlier this year the director put in $200,000 of his own money in superannuation to support the company.’’
giuseppe.tauriello@news.com.au