A1 Cooling declared insolvent owing $1.3m to creditors, staff

Multiple businesses and staff are out of pocket after an air-conditioning and refrigeration company was unable to pay off its debts. SEE LIST OF CREDITORS

A Bundaberg cooling company has declared insolvency, leaving creditors and staff more than $1.3m out of pocket.

A Bundaberg company has collapsed owing $1.3m to 79 creditors including unpaid wages for 12 employees.

A voluntary liquidation resolution was lodged on January 31, 2024 for A1 Cooling Pty Ltd, a refrigeration and air-conditioning business located in Bundaberg East.

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A Bundaberg cooling company has declared insolvency, leaving creditors and staff more than $1.3m out of pocket.

The resolution, signed by the director of the company’s sole member and shareholder, Tracey Schofield for NT Field Pty Ltd, said a review of A1 Cooling’s financial statements had determined the company was not solvent and unable to pay all of its debts.

ASIC records list Nathan Schofield of Gin Gin as the director of A1 Cooling, having held that role since December 2014.

Mr Schofield was unable to be contacted by time of publication.

Andrew Fielding from BDO Business Restructuring was appointed as the liquidator for the failed company, with Mr Fielding notifying 79 creditors of the liquidation on February 9.

The company owes a total of $1,311,084 to all creditors, including $1,032,026 to the Australian Taxation Office.

Westpac is owed $64,750, and Melbourne refrigeration and air-conditioning wholesaler Actrol is owed $64,249.

Reports also list $123,482 owed to 12 employees of A1 Cooling, including unpaid superannuation, annual leave and wages.

Regarding assets, the company has $11,227 across three bank accounts, along with air-conditioning stock, machinery and motor vehicles with an estimated value of $800,000.

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Attempts to seek comment from creditors were not successful by time of publication.