Biggest liquidations of the Wide Bay Burnett
From cafes and caterers, to a farming enterprise owing $4.3million and an electrical business owing $2.3million, these are the companies liquidated across the Wide Bay and Burnett between late 2021 and early 2023.
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Liquidations may be a regular occurrence across the state, but when it comes to the Wide Bay and Burnett it seems most businesses are able to stay afloat.
Since August 2022 there have been 702 businesses liquidated across Queensland, with only 10 of those from the Wide Bay Burnett.
Across Gympie, the Fraser Coast, Bundaberg, and the Burnett, businesses forced to shut their doors have largely shared an overarching problem: tax.
Seven of the businesses liquidated across the region since late 2021 owed the Australian Taxation Office about $3 million in unpaid bills.
These are nine of the most high profile liquidations to happen across the region in the past 20 months.
Electrical company collapses
The liquidation of Miles Electrical Pty Ltd emerged as the most high profile owing to the Queensland Building and Construction Commission’s decision to ban its two directors from holding licences for three years.
QBCC online licence records show directors Wayne Miles and Rebecca Joy Miles were excluded until November 18, 2024, three years after liquidators took over the business.
Excluded persons are unable to hold contractor’s, nominee supervisor’s, or site supervisor’s licences, or otherwise run a licensed company, for the duration of their bans.
Liquidators took over the Pialba electrical company, which had worked on the $60m Maryborough munitions plant, in late 2021, after it was suspended by the QBCC for failing to pay an invoice.
Initial reports had the company owing $2.3m.
More details here
Farming company goes bust owing $4.3m
A $4.3m debt, including at least $1.56m owed to the tax office, was the cause of the Bundaberg region farming company RBPAC Pty Ltd’s liquidation in November 2022.
The $4.3m figure was about $3m higher than initial estimates were, and came amid questions over whether the business engaged in millions of dollars of insolvent trading.
According to the creditors report, another $473,543 is owed to two secured creditors, including $329,915 owed to related company M Barbera Properties Pty Ltd.
The Australian Taxation Office is claiming $1.56m in money owed in the report, but this was “likely” to increase to $2.8m.
More details here
Refrigerated transport chilled by debt
Thabeban company Bundaberg Refrigerated Transport was liquidated in 2o21 on the back of a multimillion-dollar debt primarily owed to its former director.
An initial liquidation report by BRT director Michelle Clayton, lodged with the Australian Securities and Investments Commission, revealed the company apparently owed about $13m to its creditors and employees.
The largest individual amount owed was to former director Allan McDonald, to the value of $8,761,297.
Another $431,085 in liabilities was owed to the Australian Taxation Office was owed more than $431,000, and a further $520,000 was outstanding for the company’s employees.
More details here
Bakery bites the dust
A popular Gympie bakery abruptly shut its doors and was moved into liquidation by its owners only weeks out from Christmas owing to an outstanding debt creeping towards $1m.
Renicole Pty Ltd, the parent company of Panini’s Bakery and Cafe situated just off Mary St, was wound up and moved into the hands of Worrells’ liquidator Paul Nogueira.
The initial director’s report lodged with ASIC revealed the bakery owed about $800,000 when it was shut.
The largest slice of the debt was held by the Australian Taxation Office, at $395,364.
More details here
Pie Creek sawmill company grinds to halt
A 20-year-old Pie Creek timber haulage company was felled by the weight of a six-figure tax bill.
Morris Sawmillers and Co, registered in May 2000, was placed into liquidation in September 2022, by owner Glen Morris.
Initial documents filed with ASIC by Worrells revealed the company owed the Australian Taxation Office $115,704 when the axe fell.
More details here
Bundaberg farm ordered to pay debt
The North Gregory-based farm was wound up by the state’s Supreme Court following a takeover by administrators as a result of a debt of more than $23,000 to a creditor.
The produce grower, whose yield included snow peas, owed a total of $23,582.22 to Nutrien Ag Solutions Limited in a debt it was ordered by the court to pay.
Panichelli Farms Pty Ltd was also ordered pay $7065.57 in interest and $1715.61 in costs.
More details here
Six-figure debt bites popular burger joint
A six-figure tax bill was revealed as the reason behind the shock late 2021 closure of popular Gympie burger joint Johnny Dees.
An initial report into the company’s liquidation revealed Raucci Enterprises, the restaurant’s parent company, owed more than $235,000 to creditors when it wound up.
The largest debt was to the Australian Taxation Office, where $142,344.05 was outstanding.
More details here
Food catering company stalls
A Fraser Coast catering company collapsed owing more than $200,000 to creditors only two years after it reinvented itself.
Wide Bay Food Services PTY LTD, which traded as The Village Caterer and Vegies 2 U, was wound up in February 2022.
The total known creditor claim at the time of its collapse was about $230,000, which included a $38,000 debt to the tax office.
More details here
Delivery business parked
A $200,000 debt to the tax office was a major factor behind the voluntary wind-up of a small Bundaberg courier company.
The company was voluntarily placed into liquidation on November, 2021
More details Here
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