Pedtek, CQ Scaffolding Hire: Rockhampton businesses in liquidation

As insolvencies in Queensland rise by 23 per cent compared to this time last year, two more Rockhampton businesses have gone into liquidation. DETAILS, CREDITOR LISTS.

Two Rockhampton companies have gone into liquidation. Picture: NCA NewsWire / Emma Brasier

Insolvencies in Queensland companies have increased by 23 per cent compared to this time last year.

In July 2023 there were 87 liquidation or administration appointments compared to 69 the year before.

In the last couple of months two Rockhampton-based businesses have been placed in liquidation.

Here are the details.

ANDREW ROBERTS BUILDER, TRADING AS CQ SCAFFOLDING HIRE

Andrew Roberts Builder was moved into liquidation on July 27 with Francis O’Neill of SV Partners appointed as liquidator.

The business traded as CQ Scaffolding Hire from a Wandal address and was registered in 2006.

A document received on July 31 detailed the early estimations of the liquidation.

It states $62,123 is owed in employee superannuation to the Australian Taxation Office and three employees are owed $546 in annual leave.

A further separate $439,960 is owed to the Australian Taxation Office.

Flexicommercial are also reportedly owed $439,960, National Australia Bank $22,856 and GetCapital $22,578.

PEDTEK

The heavy and civil engineering construction business was registered in 2017 by director Michael Steere to an Allenstown address.

The liquidation was court-ordered on March 15 in the Supreme Court of Victoria with Mitchell Herrett of RSM Australia Partners appointed as the liquidator.

Mr Herrett released a report on June 15 stating the details of the liquidation.

Small business loan company Bizcap Au filed a demand for payment to the company and when the payment was not received, a winding up application was filed to the court.

“Shortly after our appointment, we communicated with the Director (Mr Steere) to advise him of our appointment, his rights and obligations as the Director and general information as to his financial position,” Mr Herrett’s report states.

“Following this, the Director has failed to communicate and/or correspond with us further, constituting a breach of his duties under the Act, and we intend to report the same to ASIC.”

Mr Steere filed for bankruptcy on May 27.

It is estimated two employees are owed $51,269 in superannuation and four unsecured creditors are owed $689,047, of which the Australian Taxation Office claims a significant portion.

Mr Herrett’s investigations have uncovered the company’s downfall may have been due to a lack of working capital, poor strategic management of capital, negative current ratio, difficulty collecting debts owed to the company and continued trading losses.

“Due to limited books and records it is difficult to confirm the date of insolvency, limiting our ability to investigate possible insolvent transactions,” the report states.

Originally published as Pedtek, CQ Scaffolding Hire: Rockhampton businesses in liquidation