This was published 8 years ago
George Gregan-backed Ventis HQ franchise collapses into administration
By Cara Waters
Home ventilation franchise Ventis HQ collapsed into administration on Christmas Eve, with staff stood down.
Retired Wallabies captain George Gregan has an equity stake in Ventis and is the face of the television commercials for the business.
The chain of franchises is part-owned by former Wallabies captain George Gregan. Credit: Photo: Jeffrey Chan JCC
However high-profile investors failed to save Ventis, with Bradd Morelli and Trent Devine of Jirsch Sutherland appointed as administrators.
Ventis was founded by brothers Mike Kennedy and Dave Kennedy and Blair Milnes with a network of eight franchises and turnover of more than $10 million.
From left to right: Mike Kennedy, Blair Milnes, and Dave Kennedy, co-founders of Ventis.Credit: Rob Homer
At its peak the business installed 100 home ventilation systems a week, with installation in a single-level home with three bedrooms typically earning Ventis around $4500.
The Ventis systems take hot air from a house's roof space, push it through air filters and distribute it throughout the home. Cool air can also be taken from outside the house at night during summer.
Administrators shut the business down over the Christmas period and are assessing the likelihood of ongoing trading.
"We will form a view by the end of the next week, if not earlier," Morelli says.
George Gregan chats home ventilation with Ventis Fyshwick owner Andrew Towndrow (centre) and MLA Shane Rattenbury.Credit: Elesa Lee
Ventis' 50 staff were stood down before the administrators' appointment.
Morelli says it is "a bit early to confirm" the reasons for the collapse of the business "but it is likely to be working capital issues and growth and overheads".
Administrators will call for expressions of interest in Ventis shortly.
"We have already received some so it is likely there will be a sale at some point," Morelli says.
Morelli confirmed Gregan continues to hold an equity stake in the business. Since retiring from international rugby Gregan has turned to entrepreneurship with interests in the chain of GG espresso cafes and other hospitality venues.
MySmallBusiness contacted Gregan for comment but did not receive a response before publication.
A first meeting of creditors for Ventis HQ is scheduled for January 8.