Home extension and renovation specialists Total Lifestyle Builders has gone into liquidation owing more than $1 million
A leading home extension and renovation business has gone into liquidation owing more than $1 million and there may be more to come.
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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.
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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.”
The family run and owned company, which previously traded as Lifestyle Kit Homes, specialised in second level and ground floor extensions and was based in an office at 598 Rode Rd, Chermside. Mr Stroud was not contactable.
Mr Stroud and Dian Patricia Stroud hold all the shares in the company which was registered in 2004.
Mr Archer said his investigations were at a preliminary stage and he has yet to determine an estimated date of insolvency.
“My investigations into the affairs of the company are continuing and I will provide a further report to creditors detailing the findings of my investigations within three months of my appointment,” he said.