Documents released this week reveal just some of the fallout from the latest tale of woe in troubled sections of the Ballarat building industry.
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Goldfields Building Co filed for voluntary liquidation this week, owing thousands to the ATO and suppliers amid outcry from people left high and dry with unfinished homes.
A document uploaded to the Australian Securities and Investments Commission, a "Report On Company Activities And Property" signed by company director Lachlan Trent Rodgers on March 22, notes the company still owes money to employees and "others", and only lists two assets - a work van and a caravan.
Liquidators Worrells Solvency and Forensic Accountants were appointed by Mr Rodgers earlier this week.
According to the document, the company owes $100,000 to the Australian Taxation Office, and another $360,000 to "suppliers".
The suppliers are not listed in this document, nor are there any specifics.
The document states the company still holds bank accounts, but does not have any plant, equipment, inventory, real property, or other assets.
On the page titled "Amounts the company owes to its employees", only the ATO is listed, and both the amount of superannuation and total money owed is listed as "unknown" - while listed in the declaration employees were owed money, further details were not disclosed.
It's also unknown how much is owed on the work van and caravan, with both listed in the company's assets and the amount owed to financiers as "TBC".
More detail on the company's financial situation is expected to be released soon as investigators continue the liquidation process, Worrells confirmed.
It's understood the company closure will affect multiple projects across the city, with one homeowner telling The Courier last week he may end up with a $200,000 bill to complete his home.
The company was renamed from Cavalier Homes in 2020, with a registered office in Wendouree and Alfredton listed as its primary place of business.
The collapse of Goldfields Building Co follows Mr Rodgers' former company, another Ballarat-based LTR Constructions, going into liquidation in November 2021, owing more than $1 million in unpaid wages and superannuation, according to ASIC documents.
It's understood LTR Constructions creditors are calling for a creditor's meeting to discuss the ongoing liquidation process.
Both companies allegedly reneged on a sponsorship deal with the Brown Hill Cricket Club last year, worth thousands of dollars.
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The business closures come amid increasing pressure on construction companies, with materials shortages and supply chain disruptions affecting new builds, and a rush on new developments, particularly in regional areas, as the pandemic begins to recede.
This in turn has pushed prices up for just about everything, while other costs, such as fuel, have also skyrocketed, and the labour force is also being squeezed.
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