A&R Evergreen collapses owe creditors close to $1 million
A Brisbane pool builder and landscaping business has gone under owing creditors close to $1 million. FULL LIST OF CREDITORS
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A Brisbane pool builder and landscaping business has gone under owing creditors close to $1 million as it succumbed to crippling cost increases.
A & R Evergreen, trading as Artisan Aqua and Infinity Pools, appointed liquidator Jarvis Archer last week as it became the latest building firm to tumble amid the savage downturn in the construction industry.
According to Queensland Building and Construction Commission (QBCC) data, A&R Evergreen’s licence was cancelled last month for failure to comply with the watchdog’s financial audit requirements.
After completing 14 projects in 2019/2020 worth more than $1.2m, the company’s residential construction work had fallen to less than $40,000 last financial year. According to its website, the company specialised in the design and construction of infinity edge concrete pools.
Infinity pools create the illusion of space by having an edge just below the water level causing the water to overflow into a collection drain.
Mr Archer, who is head of business restructuring and insolvency at Revive Financial, said trading difficulties had been given as the reasons for the company’s insolvency, including the significant price rises in the construction industry. “The company was involved in the design and construction of residential landscapes and pools,” Mr Archer said.
In excess of $900,000 is owed to about 50 creditors. The major creditor is the Australian Taxation Office which is owed approximately $750,000.
Mr Archer said his investigations into the company’s affairs had commenced and a report will be issued to the company’s creditors in due course.
Liquidators were last month appointed to North Lakes-based Pantha Homes, a category three builder that was licensed to complete work valued at up to $30m each year.
According to Queensland Building and Construction Commission records, Pantha Homes completed 48 home projects in 2020/21 valued at $13.6m but only 11 homes valued at $4.1m in the past two years.
Originally published as A&R Evergreen collapses owe creditors close to $1 million
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