Pact Services Group collapses: All staff sacked and millions owed to suppliers
A company that owned a string of air conditioning and heating businesses has gone bankrupt, owing $2 million and putting staff out of work.
Pact Services Group went bankrupt on March 20, with Pact Heating and Cooling, Pact Commercial, Pact Home Solutions, Pact Solar, Pact Service and North East Heating, Cooling and Solar all closing their doors.
Pact Services Group owes a total of more than $2 million to at least 100 creditors. news.com.au reported.
A former staff member told the publication he was fired on the spot when the company went bankrupt, saying employees were left ‘without pay and pensions’.
Jason Stone and Paul Allan of restructuring company PKF have been appointed liquidators.
Pact Services Group went bankrupt on March 20, with the companies Pact Heating and Cooling, Pact Commercial, Pact Home Solutions, Pact Solar, Pact Service and North East Heating (photo), Cooling and Solar all having to close their doors.
Headquartered in Dandenong in Melbourne’s south-east, the company offered construction and maintenance services in air conditioning, electrical, plumbing and solar energy in commercial and domestic settings.
The Australian Taxation Office, banks, staff, suppliers and landlords are all listed as creditors.
The employees received an email from the trustees informing them that they still owed duties.
“We have been informed that you are a former employee of the company and company records show that you have accrued rights as an employee,” it said.
‘There are currently insufficient funds in the liquidation to pay your outstanding employee entitlements. In this regard, we request that you proceed with filing a claim with the Ministry of Employment.’
The former employee said there were layoffs late last year, with about eight or nine of the 30 employees in his office laid off.
Pact Services Group has been active for approximately 47 years.
More to come