Builder goes into liquidation leaving subbies unpaid
SUNSHINE Coast builder Ri-Con Contractors Pty Ltd has gone into liquidation leaving as yet unknown debts to subcontractors and secured creditors.
Liquidator Paul Nogueira of Worrells was called in on Monday morning.
He said he would have a clearer understanding of the company's position when he had gone through the records on Tuesday morning.
Ri-Con Contractors had a number of local government projects including the $3,484,000 Sunshine Coast Council tender for the Caloundra Tennis Centre, the completed $2.8 million joint Gympie Council and state government Building Better Regions Gympie Skate Park and projects with Noosa Council.
The tennis centre contract was awarded in December, 2018, and is yet to reach practical completion.
It represented stage two of what ultimately would be a $5.6 million upgrade.
Involved was a new clubhouse for the growing Caloundra Tennis Club, spectator seating and carparking.
Stage one in 2015 involved the rebuild of nine plexipave courts, including one show-court.
Division Two Council Tim Dwyer in announcing the work said already improved facilities had resulted in increased tennis participation and membership.
Stage 3 of the project, pending funding availability, will deliver further court upgrades and landscaping works. Council was pursuing state and federal grant funding for Stage Three.
Ri-Con director John Jenkins of Lake Weyba was contacted for comment.
His lawyer Kyle Kimball of Sajen Law described the situation as "a sad state of affairs".
"John has worked tirelessly to save the business," he said.
"Sadly, I think if the laws had been more like other states the business could have been saved."
Mr Kimball said even when a company was in voluntary administration the licence was cancelled automatically and the directors banned from the industry.
Industry sources said worrying signs began to show six months ago the company may be in financial difficulty with on-time payment of invoices beginning to be an issue.