Following the collapse of pool builder Pools R Us earlier this month, a second Victorian pool builder has gone into liquidation.
Fibreglass pool installer Pools & Spas Pty Ltd trading as Dreamtime Pools and Spas has shut down owing an estimated $820,000.
It is expected the total amount will be greater once all creditors’ claims have been received.
Dreamtime Pools and Spas operated predominantly in Geelong, Ballarat, Bendigo and western Victoria.
Malcolm Howell of Jirsch Sutherland has been appointed liquidator of the company. He says they are still investigating a number of issues around the insolvency, including how many pools are left incomplete and the question of deposits.
He says investigations are ongoing relating to what percentage of deposits, if any, are likely to be returned to customers.
“The likelihood of a return to creditors will be advised in Jirsch Sutherland’s report to creditors within three months of the date of liquidation,” says Howell.
This should be available on or before September 9, 2023.
Five staff were terminated at the commencement of the liquidation, and are among the main creditors. It is estimated employees are owed $139,882.99.
Pool industry suppliers are estimated to be owed $34,783.38.
Howell says that Jirsch Sutherland’s investigations are continuing but from their discussions with the director, they understand there were various factors involved in the collapse of the company including staff shortages, supply chain delays, materials and the increasing cost of logistics.
SPLASH! will update this story when more is known.
Creditors can contact Jirsch Sutherland on:
Phone: (03) 8605 7333
Email: [email protected]
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