Transportable Shade Sheds collapses owing $1.3million leaving hundreds of Aussies in the lurch
Major company collapses over $1.3 million, leaving hundreds of Aussies in the lurch
- Transportable Shade Sheds has collapsed
- Customers left thousands of dollars out of pocket
- Angry customers started a Facebook group
A barn construction company has suddenly collapsed, leaving Aussies across the country thousands of dollars out of pocket and in the lurch.
Transportable Shade Sheds, based on the Sunshine Coast, went bankrupt on Monday, leaving customers with half-completed sheds.
The company owed at least $1.3 million to about 160 trade stocks and accounts payable.
A Facebook group had previously been set up by affected customers and was overrun by angry Aussies, some claiming to have paid $25,000 for sheds that were never delivered.
Robson Cotter of Robson Cotter Insolvency Group, revealed that the staff also owed money on holiday pay, pension and other costs.
Transportable Shade Sheds, based on the Sunshine Coast, went bankrupt on Monday, leaving customers with half-built sheds
According to documents from the Australian Security and Investment Commission, Robert Salomon, originally from the UK, is the director of the company
He told the Courier Mail: “And that amount again at least for customers with partially or wholly incomplete orders.
“The amount that may be due to customers with partially or fully incomplete orders delivered has not been quantified at this time.”
Chris Reeds, from Beenleigh, is a member of the Facebook group and says he lost $6,000 after ordering a shed from the company to cover his RV.
“It’s pretty amazing when you hear the stories about what other people have gone through.
‘My wife and I had been saving for quite some time to be able to afford this.
“It’s extremely stressful right now and I’ve never been in this position before.”
Another customer wrote, “Has anyone figured out a way to get your money back? We paid over $9000 for a double shed. It’s money we can’t afford to lose.’
According to documents from the Australian Security and Investment Commission, Robert Salomon, originally from the UK, is the director of the company.
Robson Cotter of Robson Cotter Insolvency Group, revealed that the staff also owed money on holiday pay, pension and other costs
Mr. Salomon and his wife Kylie run the company, but a trustee’s report revealed that six companies had been set up as a group of related entities.
“The companies’ affairs are intertwined to such an extent that there are intercompany debts and receivables between multiple entities that require investigation and possible inter-entity remediation,” the report said.
Market leaders have warned that financial woes will exacerbate the construction industry crisis amid repeated rate hikes and skyrocketing material costs.
Across Australia there were 549 administrations and liquidations in March alone, an increase of 23 per cent compared to last year.