OUTSTANDING DEBT REVEALED: Future of country pub unknown
The hotel closed in October 2018 and it has been detailed the company owes almost $750,000.
Business
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AS DUST continues to settle on the Bouldercombe hotel, the future for the closed pub remains unclear.
The owner of the Royal Hotel, Roland Gooding, went into liquidation in 2018, leaving the small rural area a town with no beer - at least a pub anyway.
Ex-publican Roly Gooding told The Morning Bulletin last year he couldn't afford to keep up with electricity prices.
Mr Gooding, who also owned a pubs in Blackall and Longreach, said he was forced to file bankruptcy in October 2018.
David Hambleton of Rodgers Reidy was appointed the liquidator.
New information came to light last week to The Morning Bulletin that the company Roly Investments Pty Ltd owed $749,454.33 to creditors.
Unsecured creditors are owed $149, 773.43 and include the Deputy Commission of Taxation for $145, 003.72 and Ergon Energy and WLW Group.
A total of $599, 680.90 is owed to secured creditors, $39,433.74 to Blackall-Tambo Regional Council for unpaid rates and the remaining amount to Westpac.
Australian Securities and Investments Commission documents show the company was registered in May 2002, operating the Prince of Wales Hotel at Blackall, The Royal Hotel at Bouldercombe and Commercial Hotel at Longreach.
The Blackall hotel had been owned by the company since April 2013 and ceased to trade in March 2018.
The Bouldercombe hotel had been owned by the company since August 2013 and ceased to trade in October 2018.
The Longreach hotel was owned by the director until it sold in May 2018, with the nett proceeds of $68,283.92 going to the company's Westpac business loan.
The report to creditors for the winding up of the hotels, submitted by the liquidator, states Mr Hambleton believed the company's failure was due to "poor economic conditions - a decline in the demand for accommodation and hospitality services and reduced visitor numbers in the areas the pubs operates and trading losses - increased costs for inputs such as electricity".
Mr Hambleton has sought remuneration of $29,027 for his work on the liquidation until November 2018 and a further $20,000 for future work.
The future of the Bouldy Pub remains unclear at this stage.
It was last listed for sale in 2018 for $600,000.
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