Workers at two New South Wales factories have criticised their former employer as the company Apollo Joinery goes bankrupt. This has left the company and other creditors millions short.
According to The Daily Telegraph, two companies connected to Sydney’s Apollo Group, which specialises in kitchen and bathroom joinery, collapsed after 56 years. With big builders as its main clients, the market now faces additional strain.
The Federal Court ordered Apollo Kitchens (NSW) Pty Ltd into liquidation due to a $7.8 million tax debt, leading to 100 job losses, followed by the voluntary liquidation of Brownlen Pty Ltd, resulting in 29 job losses.
One staff member, with the alias Ron, revealed that he hadn’t been paid any superannuation for 18 months of work, since October 2022.
“All staff are absolutely disgusted,” Ron told news.com.au.
One of the liquidators, Kathy Sozou shared that as well as the company’s tax debt, the company owes an additional $3.5 – $4 million to other unsecured creditors.
Ms Sozou said that brings the company’s debts to around $11 million, most of which were added over the last three months. She also said that a few of the big suppliers were creditors, as well as about 50 smaller businesses.
“Some of that is inter-company claims, because they traded with entities in the group,” Ms Sozou said.
Source: The Daily Telegraph.
