Joinery Manufacturing Options ordered into liquidation amid GDK Group’s $45m collapse

A tradie enterprise has lastly collapsed weeks after brutally sacking all its employees proper earlier than Christmas. can reveal that on Wednesday morning, the Federal Court docket’s NSW division ordered Joinery Manufacturing Options Pty Ltd to enter liquidation over an unpaid tax debt.

Tristana Steedman of insolvency agency RSM Companions has been appointed because the liquidator and has been contacted for remark.

Joinery Manufacturing Options was the final vestige of a multimillion greenback cupboard making enterprise known as GDK Group, working out of a manufacturing facility in Sydney’s west. beforehand reported that previously six months, 11 companies linked to the group have collapsed with money owed in extra of $45 million.

A few of these companies had been named after obscure Lord of the Rings references, “complicated” some employees members and leaving them unaware that a number of the corporations had been in operation.

Within the Wednesday court docket continuing, Judicial Registrar Nicola Colbran ordered Joinery Manufacturing Options to be “wound up in insolvency” because the company was “deemed bancrupt”.

Earlier than the court docket listening to, the corporate’s sole director, Nicholas Kalikajaros, despatched an e mail indicating he had no plans to oppose plans to position his enterprise in liquidation.

Weeks earlier than Christmas final yr, reported that every one 30 cupboard makers on the firm’s Wetherill Park manufacturing facility had been “unceremoniously dumped”.

Feelings ran excessive, with one employee telling on the time “it was very unhappy to see grown males crying”.

Employees had been known as to the entrance of the manufacturing facility in early December the place they discovered the information.

In a termination letter, signed off by firm director Mr Kalikajaros, employees had been knowledgeable “your place is not wanted” and that “regrettably” this meant their employment was over, efficient instantly.

Liquidators of different entities within the defunct group of companies have estimated that employees are owed $2.1 million, together with $885,000 in superannuation which isn’t recoverable by way of authorities rescue schemes.

At its peak, the GDK Group’s manufacturing facility had round 100 employees and 50 contractors however workers mentioned that quantity had shrunk to round 30 earlier than it lastly shut down for good.

This collapse marks the twelfth firm to break down beneath the GDK Group banner in as many months.

Of these 12 companies, many have been named after obscure references from the long-lasting e-book collection The Lord of the Rings, comparable to Himlad, Hithlum, Thargeliou, Belegaer, Ossiriand, Nevrast, Dorlomin and Avernien.

Since then, liquidators have put the manufacturing facility premises up on the market on liquidation public sale web site Pickles.

The commercial states that at its top, GDK Group generated a month-to-month income of $3.6 million.

Expressions of curiosity shut on February 15.

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In Could, Himlad Pty Ltd, linked to the GDK Group of corporations, went into voluntary liquidation with money owed of $29.8 million, in response to a statutory report filed with the company regulator.

All staff’ payroll and depart entitlements converted to Joinery Manufacturing Options Pty Ltd.

Since then, the tax workplace has forcibly wound up a number of different corporations within the Federal Court docket.

in July, three different corporations went into voluntary liquidation – Nevrast Pty Ltd previously buying and selling as Imprint Furnishings, Dorlomin previously buying and selling as Imprint Programs and Avernien Pty Ltd previously buying and selling as GDK Ventures. Liquidation reviews say these corporations had been a part of the GDK Group.

On the finish of November, the Federal Court docket ordered two extra corporations to go stomach up and Henry McKenna of insolvency agency Vincents was nominated because the liquidator.

Hithlum Pty Ltd previously generally known as GDK Group (International) Pty Ltd was ordered to enter liquidation as a result of unpaid tax money owed of $261,000 whereas Thargeliou Pty Ltd previously generally known as Imprint Road (Australia) Pty Ltd had $90,000 in unpaid taxes.

In early December, Ossiriand Pty Ltd was ordered to enter liquidation. The liquidators Alan Hayes and Wayne Marshall of Hayes Advisory have been contacted for remark.

One other slew of companies collapsed by court docket order a number of days later – GDK Group Pty Ltd, Belegaer Pty Ltd, GDK Initiatives Pty Ltd and GDK Holdings.

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