Ipswich businesses remain in the dark weeks after shock repossession

Several Ipswich businesses remain uncertain about their futures after a shock repossession forced their stores to close last month.

Two weeks on from the shock forced closure of five popular Ipswich businesses, tenants remain in the dark about whether they will be allowed to trade from their premises in the new year.

Business owners along Ellenborough Street in the city’s CBD arrived at work on Wednesday November 17 to find they had been locked out of their buildings and notices of possession had been issued, preventing them from entering their own stores for an entire day.

Rafter and Rose, lawXO, Brow & Beaute Boudoir and Elan Hair Co. were among those affected.

On Thursday, two weeks after the three buildings were repossessed by mortgagee Oak Capital Wholesale Fund, business owners said neither Oak nor its lawyers had attempted to make contact with them and explain the situation.

Rafter and Rose co-owner Candy Gazdagh said they were in the dark about whether they would be able to trade from their beloved store in the new year.

“We’re waiting to see what happens with our lease,” Rafter and Rose co-owner Candy Gazdagh said.

“We’re probably at risk of having to relocate, but all indications (suggest) that we won’t have any changes until the new year.”

Ms Gazdagh said she had “heard nothing” from Oak’s legal representatives since the notice of possession was issued.

She estimated the business had lost thousands in revenue by being forced to close for the day.

The beloved cafe has been on the street for seven years but Ms Gazdagh said it was unknown whether they would be able to continue operating there unless a local buyer bought the buildings.

“We’re just trying not to stress about it. We’re going with the flow,” she said.

“Whatever will be, will be.”

She said she was grateful to have the support of her co-owner Elle Morar and the Ipswich community, its businesses and Ipswich City Council behind her.

Security were on site and tenants have been barred from entering their stores on Ellenborough Street after a notice of possession was issued last month.

Until Rafter and Rose receives an update from the owner of the building it will continue to operate as normal.

Another affected business owner, who wished to remain anonymous, said she also had not heard from Oak or their legal representation since November 17.

The woman estimated her business lost about $2000 in sales during the forced closure, and due to the busy time of year she was unable to reschedule the appointments which she had to cancel.

“It’s temporary … we have no idea how long (we can operate),” she said.

“I believe it is to be sold. It’s so infuriating.

“We’re just trying to survive until Christmas … they’ve not provided us with anything.”

Tenants arrived at work two weeks ago to find their locks had been change and a notice of repossession.

The woman said she was uncertain about her future at the premises or whether she would have to relocate in the new year.

“I’m in the situation where I have to wait and see (about relocating), with this time of year I’m so highly booked.”

The Queensland Times has reached out to legal representatives for Oak Capital Wholesale Fund for comment.