Victorian plumbing company Richstone Australia Group has gone into liquidation just months after attempting to restructure the business. 7NEWS
Richstone Australia Group Pty Ltd, and several other related companies, officially collapsed on June 19 according to documents filed with the Australian Securities and Investments Commission .Watch the latest news and stream for free onDocuments filed with ASIC show that back in March, the company had gone into voluntary administration.
David Coyne and Peter Krejci of BRI Ferrier were appointed administrators, and were attempting to restructure the company.Earlier this year, Krejci said he was “delighted to have facilitated a restructure of the Richstone Group” alongside Coyne. “ averted the chaos, delay and costs to its customers that would have inevitably ensued had it ceased trading without a sale,” Krejci wrote on LinkedIn.
“The restructure, as an initial step in the voluntary administration of the group, was approved by the Victorian Supreme Court confirming that the sale of the group’s business and assets to a related entity was done for value and in the best interests of creditors.”The administrators have been contacted for comment.
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