Springsure Tractor & Header Service in $2.2M external administration

A Central Queensland agricultural firm has gone into administration, leaving small businesses, national companies, trade suppliers, banks and the tax office owed money. SEE THE FULL CREDITORS LIST.

generic tractor photo

A Central Highlands agricultural business has gone into liquidation owing more than $2.2 million to banks and trade suppliers.

CQ AG Parts, trading as Springsure Tractor & Header Service, went into administration on March 16 with Michael Beck of Worrells Insolvency and Forensic Accountants Rockhampton appointed.

The business traded from 9 Eclipse Street, Springsure.

The property is registered in the company name and was bought in 2013 for $750,000.

A company activities report was filed with the Australian Securities and Investments Commission on March 16.

The director, Paul Ferguson, stated the business commenced trading on December 4, 2009, and ceased trading on February 3, 2023.

According to the documents filled out by Mr Ferguson, employees are not owed money in wages or salary and two employees are owed $21,000 in annual leave, long service and superannuation.

A sum of $196,915 is owed to the Australian Taxation Office regarding employee finances.

The company has $300,000 in inventory and stock, $75,000 in plant and equipment, $10,000 for a motor vehicle and $1.2 million in real property.

Financial statements indicate the company is also owed $87,188.65 in outstanding invoices.

Springsure Tractor & Header Service. Photo: Google Maps.

MONEY COMPANY OWES CREDITORS:

• CBA: $1,029,642
• Prospa (financial institution): $151,809
• Trucop (agricultural pesticides): $159,666
• Shift (financial institution): $27,893
• ATO: $406,000
• Trade suppliers (combined): $436,132
TOTAL: $2,211,142

TRADE SUPPLIERS

• AGCO Australia Limited: $281,147.95
• BOC: $557.35
• Browns Express: $402.88
• Central Highlands Auto: $402.88
• Central Highlands Engine Reconditioners: $9,073.19
• CQ Brokerage: $1,500
• CQ Crane Hire: $880
• Cummins: $671.50
• Diesel Parts & Services: $489.94
• Ergon Energy: $282.01
• Exclusive Tyres Brisbane: $54,102.66
• Followmont Transport: $2,098.76
• Gibson Field Service: $5,541.43
• HHH Partners: $2,150
• JJ Richards & Sons: $372.13
• Marshall Power Australia: $961.16
• Midwest Fabrication: $9,543.58
• Milne Bros: $6,966.29
• MTD Products Australia: $5,853.29
• Multitrade Building Hire: $4,212.58
• NAPA: $2,615.19
• Noffkes’ Rural: $5,200
• Primary Sales Australia: $3,019.07
• Repco Australia: $823.10
• RH & JJ Clews: $1,037.30
• Site Support: $5,937.70
• Specialised Farm Machinery: $9,000.95
• Spitwater: $427.50
• Springsure Newsagency: $1,733.55
• Springsure Roadhouse Caravan Park: $4,385.22
• Springsure Welding Works: $860.09
• Telstra: $1,085.67
• TNT Express Australia: $2,567.42
• Trade machines: $1,681.81
• Tyremax: $2,155.32
• Vanderfield: $9,115.51
• WL Andrews: $1,490