63 companies collapse into liquidation, administration in June, with ‘insolvency tsunami’ due in June 2021

Christmas could literally come early for Queensland businesses battling to stay afloat, with seasonal spending expected to stave off a predicted October COVID-19 ‘insolvency tsunami’. But, for many, it will only be a brief stay of execution, with the impact to come months later.

QUEENSLAND companies are collapsing by the dozen as the nation’s businesses head towards an economic cliff when COVID-19 support ends.

In the final month of the financial year, 63 Queensland companies collapsed into liquidation or administration.

The numbers remain below the average monthly collapses, which hovered around 100 per month prior to COVID-19.

Liquidator Brendan Nixon of SM Solvency said the virus and associated lockdowns had already sealed the fate of many companies.

“Most of our recent liquidations from April onwards have had a cause of the company’s demise being attributed, at least partly to COVID-19,” he said.

“It’s the lockdowns, the travel restrictions and the inability to trade, particularly in hospitality, as usual.”

However, he said the ‘insolvency tsunami’ predicted for October would not come until June 2021, with lead-up to Christmas this year resulting in high consumer spending.

Government payments are due to run out in September, but pressure is building on the Morrison Government to ease businesses off support.

“It’s built an underbelly of zombie companies,” Mr Nixon said.

He encouraged small and medium-sized business directors to speak to SM Solvency liquidators if their financial situation was dire.

“There are insolvency professionals such as us who are prepared to work with directors in tough situations,” he said.

“Liquidation doesn’t have to be expensive.”

JUNE LIQUIDATIONS

Few and Far Collective Pty Ltd

ACN: 168 084 946

DA. Met Marine Pty Ltd

ACN: 154 058 947

Hotshot Transport Queensland Pty Ltd

ACN: 168 943 744

Henderson Matusch Pty Ltd

ACN: 107 343 091

My Mistress Pty Ltd

ACN: 602 681 569

Laurcam Pty Ltd trading as ATF Laurcam Family Discretionary Trust

ACN: 608 117 415

Hargunn Ana Pty. Ltd.

ACN: 614 618 656

Quaack Services Pty Ltd trading as Formerly trading as Flugente

ACN: 143 660 404

Ecogiene Pty Ltd

ACN: 630 376 000

KHAN ABRO ENTERPRISES PTY LTD trading as Coco Bliss Daisy Hill

ACN: 619 697 353

Lantle Group Pty Ltd

ACN: 624 900 983

NIAGARA OCEANIA PTY LTD

ACN: 628 155 671

Hobson Constructions (Qld) Pty Ltd

ACN: 010 817 179

Patrick Property Investments Pty Ltd

ACN: 075 692 803

Total Lifestyle Builders Pty Ltd trading as Formerly trading as “ Lifestyle Kit Homes”

ACN: 110 355 372

Phoenix Global Australia Pty Ltd

ACN: 153 702 455

FUSED ENERGY IP PTY LTD

ACN: 620 868 215

ZH Flooring Pty Ltd

ACN: 603 195 518

CAMALIC PTY LTD

ACN: 101 962 798

WOODFORD DEVELOPMENT GROUP PTY LTD

ACN: 600 997 760

GAS GROUP MANAGEMENT PTY LTD

ACN: 621 749 273

Tikep Pty Ltd

ACN: 611 821 955

PURPLE HIRING AUSTRALIA PTY LTD

ACN: 004 734 249

Mewett Constructions Pty Ltd

ACN: 069 123 324

WJ HOSPITALITY PTY LTD

ACN: 632 596 206

Morton Berg Pty Ltd

ACN: 106 170 576

JJ Loz Pty Ltd trading as Le Snacks Fine Foods

ACN: 609 611 592

BAVARIA SAIL PTY LTD

ACN: 158 144 622

BAVARIA POWER BOATS AUSTRALIA PTY LTD

ACN: 158 144 088

DGM Group Pty Ltd

ACN: 163 488 695

Indigo Field Industrial Relations Pty Ltd

ACN: 139 628 194

THE MASTA GLAZIER PTY LTD

ACN: 604 873 314

Hill Michael Associates Consulting Pty Ltd

ACN: 086 347 300

CN5 PTY LTD

ACN: 625 524 307

George Tyre Services Pty Ltd

ACN: 608 447 221

Austrecruit International Pty Ltd trading as The Little Cube

ACN: 127 408 422

NEWSTAR PROPERTY PTY LTD

ACN: 097 033 666

WK Carrigan Pty Ltd

ACN: 621 201 241

Flavour N Spice Pty Ltd

ACN: 169 307 911

IPSP Billing Pty Ltd

ACN: 139 716 546

JORYN PTY LTD

ACN: 617 979 683

CERTICA CMO PTY LTD

ACN: 135 637 768

CQ4 PTY LTD

ACN: 625 503 013

CS5 PTY LTD

ACN: 625 502 874

CV3 PTY LTD

ACN: 625 502 990

CW3 PTY LTD

ACN: 625 502 838

ADTECH BUILDING GROUP PTY LTD

ACN: 605 117 084

Australian Insulated Glass Pty Ltd trading as Australian Insulated Glass

ACN: 166 153 395

THOMSON FAMILY BUILDERS PTY LTD trading as Lifestyle Renovations QLD

ACN: 634 401 282

O‘FLYNN BUILDERS PTY LTD

ACN: 615 447 213

Love Lending Services Pty Ltd

ACN: 155 002 225

ASAP Developments Pty Ltd

ACN: 618 879 520

Successful Finance Solutions Pty Ltd

ACN: 168 791 142

JUNE ADMINISTRATIONS

INTELLIGENT INFRASTRUCTURE SOLUTIONS PTY LTD

ACN: 609 630 800

Tansacha Pty Ltd (Administrator Appointed)

ACN: 161 395 295

Hercules Northshore Pty Ltd

ACN: 146 311 659

Crystal Blue Group Pty Ltd trading as Crystal Blue Commercial Loans

ACN: 158 839 046

JMS Metal Roofing Pty Ltd trading as ATF JMS Trust

ACN: 620 883 632

MORETON RESOURCES LTD

ACN: 060 111 784

MRV METALS PTY LTD

ACN: 610 100 402

MRV TARONG BASIN COAL PTY LTD

ACN: 160 645 607

MRV SURAT BASIN COAL PTY LTD

ACN: 104 226 431

MRV BOWEN BASIN COAL PTY LTD

ACN: 155 597 587

Originally published as 63 companies collapse into liquidation, administration in June, with ‘insolvency tsunami’ due in June 2021