Latest news with #Queensland-based
Sydney Morning Herald
3 days ago
- Business
- Sydney Morning Herald
Employees owed millions after ex-Brisbane Lions sponsor's collapse
A Queensland-based transport and logistics company collapsed with more than $30 million in debt, creditors have been told as they seek to recoup money owed to them by the Brisbane Lions' former major sponsor. Administrators FTI Consulting were called in late last month to wind down XL Express, which had depots across Australia, and hosted an online meeting on Wednesday afternoon with more than 200 creditors. At that meeting, creditors were told XL Express collapsed with total debt of $32.15 million, including $3.16 million in employee entitlements, $14.12 million to 'trade creditors' including owner-drivers, and almost $1.9 million to the ATO. Documents from the meeting, obtained by this masthead, show a total of 196 employees were sacked to reduce costs during the wind-down, with limited staff retained to manage essential business functions. FTI told creditors a continuation of trade was not commercially viable 'due to the lack of funding and the absence of realistic prospects for either a Deed of Company Arrangement or a sale of the business'. The administrators said they had secured the company's books and 'commenced preliminary investigations' into XL's affairs. Landlords had also been contacted, as arrangements were made to vacate XL's depots across Australia. One of the creditors, an owner-driver who did not want to be named for fear of repercussions, described the meeting as 'angry'. 'A lot of people are owed a lot of money, so I don't blame them,' he said. The driver said he was owed thousands of dollars and was not confident of a good outcome.
The Age
3 days ago
- Business
- The Age
Employees owed millions after ex-Brisbane Lions sponsor's collapse
A Queensland-based transport and logistics company collapsed with more than $30 million in debt, creditors have been told as they seek to recoup money owed to them by the Brisbane Lions' former major sponsor. Administrators FTI Consulting were called in late last month to wind down XL Express, which had depots across Australia, and hosted an online meeting on Wednesday afternoon with more than 200 creditors. At that meeting, creditors were told XL Express collapsed with total debt of $32.15 million, including $3.16 million in employee entitlements, $14.12 million to 'trade creditors' including owner-drivers, and almost $1.9 million to the ATO. Documents from the meeting, obtained by this masthead, show a total of 196 employees were sacked to reduce costs during the wind-down, with limited staff retained to manage essential business functions. FTI told creditors a continuation of trade was not commercially viable 'due to the lack of funding and the absence of realistic prospects for either a Deed of Company Arrangement or a sale of the business'. The administrators said they had secured the company's books and 'commenced preliminary investigations' into XL's affairs. Landlords had also been contacted, as arrangements were made to vacate XL's depots across Australia. One of the creditors, an owner-driver who did not want to be named for fear of repercussions, described the meeting as 'angry'. 'A lot of people are owed a lot of money, so I don't blame them,' he said. The driver said he was owed thousands of dollars and was not confident of a good outcome.
Courier-Mail
3 days ago
- General
- Courier-Mail
Builder's epic $740k council fine for daughter's cubby house
An Aussie builder, who fought tooth and nail with council – even securing engineering approval – for a double-decker cubby house for his daughter, is now staring down a $740k fine. Keith Richardson has been crafting cubbies since childhood, which sparked his career as owner and managing director of Queensland-based Imagine Kit Homes. 'That is how I started way back when,' he said, 'all I wanted to do was build what we called huts at the time, we didn't call them cubby houses'. So when he had his own children, it was a no brainer that they would have the most amazing cubby he could construct – in this case a double-decker design built when his daughter, Sophie, was two. MORE: Origin star Reece Walsh's staggering windfall $74,800 rise: Aus capital leading home price spike More: Kochie warns RBA rate cut gamble could backfire Mapped: Owners of Aus' trashed islands named It was more than just a play space, he said. 'It was over engineered, and kind of a quirky little design. I made sure I had all these design specific requirements like cantilevered balconies, hardwood flooring and raked ceilings, all these things that I knew looked good on houses.' 'I wanted to make it a special sort of cubby house, and as we all know, a cubby house built on the ground isn't much fun, so that's why I put it up, not too high though.' But despite the property backing onto a main road and the cubby house blending into the tree line, a neighbour complained to the council. 'You got to have a pretty dark heart to do that,' the builder said, puzzled by his neighbour's complaint. An epic bureaucratic challenge began over the Upper Coomera cubby house, with the tiniest of houses going through a rigorous approval process akin to normal houses of grown-ups. 'I employ five designers and architects, so I put plans into council to get approval. I had to get engineers to inspect it. It was over engineered and I had to get consent. I did all that!' He's even built a granny flat on the property since which did not raise as many issues as the cubby house has with council. MORE: Cash-strap student turns $40k to 38 homes Govt pays $3.3m for unliveable derelict house Now, after eight years of peace, he has another fight looming with much more dire consequences that could put him out of pocket to the tune of $740,000 in fines. A second neighbour has complained about the cubby house – claiming it was an 'eyesore' and council has acted, again, over its removal. Mr Richardson said 'beauty is in the eye of the beholder. My 10-year-old thinks it's the best thing she's ever seen. The fact that this person thinks that is their opinion, but it's then made the council come around, do the inspections, and send this big eight page letter basically saying that there's a $740,000 fine if I don't become compliant.' 'I think it's the only one in Australia that has ever had council approval. They said we can't find the approval you did originally and I said well surely if you look in the cubby house approvals file, there's only one property in there, it'll be mine.' Mr Richardson told The Courier-Mail 'I could easily fight this' but he's over it all now. 'I don't want to upset them, because I need the council, but I just think seriously isn't there a cat stuck in a tree or something that they've got to go and save? There's bigger things than cubby houses to worry about. I just can't be bothered fighting with them.' MORE: ATO's dragnet: Millions of side hustles face shock tax bill Mr Richardson took to Facebook Marketplace, offering the cubby house up for free to a good home, with one condition being that in removing it they don't damage a pizza oven he built near it. 'When I first heard (about the council demand), I thought that was so unfair and but now I just want to give it away to someone. I just want someone to literally chop the four posts, lift it up with a crane, put it on the back of a truck, and take it wherever they want.' 'People have asked what's your best price? I'm like, well, it can't get any better than free.' 'It's cost me a lot of money to build it, get it engineered and everything. It's more about making sure it goes to a good family and they enjoy it.' 'I've now got a young family that live on South Straddie that have contacted me saying yes, we love it, we want it.' Mr Richardson. who has the property with the double decker cubby house rented out, said his tenants adored it. 'I hope I don't have to drop the rent because it's going'. 'I had to admit, now that the trees behind it have gone, it does stick out a bit. It's just that I built this for my children, and it's got emotional value.' MORE REAL ESTATE NEWS
The Advertiser
03-07-2025
- Business
- The Advertiser
Sage Painting liquidated with $2m debt, but owner keeps trading after restructure
FIFTH-generation painter Sean Hersee's well-known Hunter business, Sage Painting, has been placed in liquidation with debts of more than $2 million, but Mr Hersee will continue trading under a new company known as Sage Painting Port Stephens after a business restructuring. Sage Painting ceased trading in March, and Queensland-based Matthew Bookless of SV Partners is overseeing the liquidation. Mr Hersee was the sole director of the residential and commercial painting and epoxy flooring business, which operated from leased premises in Taylors Beach, Port Stephens. He told the Newcastle Herald this week that several external factors led to a decision to restructure the business initially before it was ultimately placed in liquidation. These included "builders going into administration, prolonged bad weather, a downturn in the construction industry and not fully recovering from the effects of Covid". Mr Hersee said while the process was incomplete, "all staff entitlements and suppliers are getting paid". "Additionally, expanding the business into extra services placed a heavy strain on our core business, which had been successful for 12 years prior," he said. "Once we realised recovery would be difficult, and fulfilling my director's duties, we sought professional advice. "With the help of a restructuring practitioner, we have legally downsized the business to ensure sustainability and quality. We have chosen to refocus on our core strengths: residential and commercial painting." According to a statutory report filed with the Australian Securities and Investments Commission (ASIC) by the liquidator, another company run by Mr Hersee, known as Sage Painting Port Stephens, purchased Sage Painting's business, intellectual property, plant and equipment before it was placed in liquidation. "The sale proceeds were paid to the company's bank account prior to my appointment," the liquidator's report reads. "I will conduct an assessment of the commerciality of this sale. Should the sale be considered uncommercial, I will recover a sufficient further amount from the purchaser or seek to void the transaction." According to the liquidator's report, Sage Painting owes $2.1 million, including $1.9 million to unsecured creditors, of which $1.186 million is owed to the Australian Taxation Office (ATO). It's estimated that employees are owed about $136,000 in superannuation and annual leave. The company had three bank accounts with ANZ, but no money was in them when the liquidator was appointed. About two years before the company was placed in liquidation, a restructuring expert was engaged to assess the business. An agreement was made to sell Sage Painting's assets to Sage Painting Port Stephens. According to a March 2023 report by the restructuring practitioner, Mr Hersee sold a property and paid $200,000 to Sage Painting, which had almost $1 million in debts. The $200,000 covered the restructuring practitioner's fee of almost $20,000, and the rest was split between creditors, which resulted in a return of about 18 cents on the dollar. "The business ceased trading on 4 March 2025 and was sold to a related party, Sage Painting Port Stephens Pty Ltd," the liquidator's report reads. "My investigations in the liquidation will focus on assessing the sale to ensure it was commercial. The company's director, Sean Hersee, advised me the reason for the company's failure was due to insufficient cash flow, poor scaling of the business and external market pressures. I will conduct independent investigations into the cause of the company's insolvency." Mr Hersee said since the restructuring, the business was in a strong position and delivering "outstanding work to our customers". "As a father, my focus is to set an example for my children - that challenges in life and business are inevitable, but it's how you respond, learn, and rebuild that defines your path forward," he said. FIFTH-generation painter Sean Hersee's well-known Hunter business, Sage Painting, has been placed in liquidation with debts of more than $2 million, but Mr Hersee will continue trading under a new company known as Sage Painting Port Stephens after a business restructuring. Sage Painting ceased trading in March, and Queensland-based Matthew Bookless of SV Partners is overseeing the liquidation. Mr Hersee was the sole director of the residential and commercial painting and epoxy flooring business, which operated from leased premises in Taylors Beach, Port Stephens. He told the Newcastle Herald this week that several external factors led to a decision to restructure the business initially before it was ultimately placed in liquidation. These included "builders going into administration, prolonged bad weather, a downturn in the construction industry and not fully recovering from the effects of Covid". Mr Hersee said while the process was incomplete, "all staff entitlements and suppliers are getting paid". "Additionally, expanding the business into extra services placed a heavy strain on our core business, which had been successful for 12 years prior," he said. "Once we realised recovery would be difficult, and fulfilling my director's duties, we sought professional advice. "With the help of a restructuring practitioner, we have legally downsized the business to ensure sustainability and quality. We have chosen to refocus on our core strengths: residential and commercial painting." According to a statutory report filed with the Australian Securities and Investments Commission (ASIC) by the liquidator, another company run by Mr Hersee, known as Sage Painting Port Stephens, purchased Sage Painting's business, intellectual property, plant and equipment before it was placed in liquidation. "The sale proceeds were paid to the company's bank account prior to my appointment," the liquidator's report reads. "I will conduct an assessment of the commerciality of this sale. Should the sale be considered uncommercial, I will recover a sufficient further amount from the purchaser or seek to void the transaction." According to the liquidator's report, Sage Painting owes $2.1 million, including $1.9 million to unsecured creditors, of which $1.186 million is owed to the Australian Taxation Office (ATO). It's estimated that employees are owed about $136,000 in superannuation and annual leave. The company had three bank accounts with ANZ, but no money was in them when the liquidator was appointed. About two years before the company was placed in liquidation, a restructuring expert was engaged to assess the business. An agreement was made to sell Sage Painting's assets to Sage Painting Port Stephens. According to a March 2023 report by the restructuring practitioner, Mr Hersee sold a property and paid $200,000 to Sage Painting, which had almost $1 million in debts. The $200,000 covered the restructuring practitioner's fee of almost $20,000, and the rest was split between creditors, which resulted in a return of about 18 cents on the dollar. "The business ceased trading on 4 March 2025 and was sold to a related party, Sage Painting Port Stephens Pty Ltd," the liquidator's report reads. "My investigations in the liquidation will focus on assessing the sale to ensure it was commercial. The company's director, Sean Hersee, advised me the reason for the company's failure was due to insufficient cash flow, poor scaling of the business and external market pressures. I will conduct independent investigations into the cause of the company's insolvency." Mr Hersee said since the restructuring, the business was in a strong position and delivering "outstanding work to our customers". "As a father, my focus is to set an example for my children - that challenges in life and business are inevitable, but it's how you respond, learn, and rebuild that defines your path forward," he said. FIFTH-generation painter Sean Hersee's well-known Hunter business, Sage Painting, has been placed in liquidation with debts of more than $2 million, but Mr Hersee will continue trading under a new company known as Sage Painting Port Stephens after a business restructuring. Sage Painting ceased trading in March, and Queensland-based Matthew Bookless of SV Partners is overseeing the liquidation. Mr Hersee was the sole director of the residential and commercial painting and epoxy flooring business, which operated from leased premises in Taylors Beach, Port Stephens. He told the Newcastle Herald this week that several external factors led to a decision to restructure the business initially before it was ultimately placed in liquidation. These included "builders going into administration, prolonged bad weather, a downturn in the construction industry and not fully recovering from the effects of Covid". Mr Hersee said while the process was incomplete, "all staff entitlements and suppliers are getting paid". "Additionally, expanding the business into extra services placed a heavy strain on our core business, which had been successful for 12 years prior," he said. "Once we realised recovery would be difficult, and fulfilling my director's duties, we sought professional advice. "With the help of a restructuring practitioner, we have legally downsized the business to ensure sustainability and quality. We have chosen to refocus on our core strengths: residential and commercial painting." According to a statutory report filed with the Australian Securities and Investments Commission (ASIC) by the liquidator, another company run by Mr Hersee, known as Sage Painting Port Stephens, purchased Sage Painting's business, intellectual property, plant and equipment before it was placed in liquidation. "The sale proceeds were paid to the company's bank account prior to my appointment," the liquidator's report reads. "I will conduct an assessment of the commerciality of this sale. Should the sale be considered uncommercial, I will recover a sufficient further amount from the purchaser or seek to void the transaction." According to the liquidator's report, Sage Painting owes $2.1 million, including $1.9 million to unsecured creditors, of which $1.186 million is owed to the Australian Taxation Office (ATO). It's estimated that employees are owed about $136,000 in superannuation and annual leave. The company had three bank accounts with ANZ, but no money was in them when the liquidator was appointed. About two years before the company was placed in liquidation, a restructuring expert was engaged to assess the business. An agreement was made to sell Sage Painting's assets to Sage Painting Port Stephens. According to a March 2023 report by the restructuring practitioner, Mr Hersee sold a property and paid $200,000 to Sage Painting, which had almost $1 million in debts. The $200,000 covered the restructuring practitioner's fee of almost $20,000, and the rest was split between creditors, which resulted in a return of about 18 cents on the dollar. "The business ceased trading on 4 March 2025 and was sold to a related party, Sage Painting Port Stephens Pty Ltd," the liquidator's report reads. "My investigations in the liquidation will focus on assessing the sale to ensure it was commercial. The company's director, Sean Hersee, advised me the reason for the company's failure was due to insufficient cash flow, poor scaling of the business and external market pressures. I will conduct independent investigations into the cause of the company's insolvency." Mr Hersee said since the restructuring, the business was in a strong position and delivering "outstanding work to our customers". "As a father, my focus is to set an example for my children - that challenges in life and business are inevitable, but it's how you respond, learn, and rebuild that defines your path forward," he said. FIFTH-generation painter Sean Hersee's well-known Hunter business, Sage Painting, has been placed in liquidation with debts of more than $2 million, but Mr Hersee will continue trading under a new company known as Sage Painting Port Stephens after a business restructuring. Sage Painting ceased trading in March, and Queensland-based Matthew Bookless of SV Partners is overseeing the liquidation. Mr Hersee was the sole director of the residential and commercial painting and epoxy flooring business, which operated from leased premises in Taylors Beach, Port Stephens. He told the Newcastle Herald this week that several external factors led to a decision to restructure the business initially before it was ultimately placed in liquidation. These included "builders going into administration, prolonged bad weather, a downturn in the construction industry and not fully recovering from the effects of Covid". Mr Hersee said while the process was incomplete, "all staff entitlements and suppliers are getting paid". "Additionally, expanding the business into extra services placed a heavy strain on our core business, which had been successful for 12 years prior," he said. "Once we realised recovery would be difficult, and fulfilling my director's duties, we sought professional advice. "With the help of a restructuring practitioner, we have legally downsized the business to ensure sustainability and quality. We have chosen to refocus on our core strengths: residential and commercial painting." According to a statutory report filed with the Australian Securities and Investments Commission (ASIC) by the liquidator, another company run by Mr Hersee, known as Sage Painting Port Stephens, purchased Sage Painting's business, intellectual property, plant and equipment before it was placed in liquidation. "The sale proceeds were paid to the company's bank account prior to my appointment," the liquidator's report reads. "I will conduct an assessment of the commerciality of this sale. Should the sale be considered uncommercial, I will recover a sufficient further amount from the purchaser or seek to void the transaction." According to the liquidator's report, Sage Painting owes $2.1 million, including $1.9 million to unsecured creditors, of which $1.186 million is owed to the Australian Taxation Office (ATO). It's estimated that employees are owed about $136,000 in superannuation and annual leave. The company had three bank accounts with ANZ, but no money was in them when the liquidator was appointed. About two years before the company was placed in liquidation, a restructuring expert was engaged to assess the business. An agreement was made to sell Sage Painting's assets to Sage Painting Port Stephens. According to a March 2023 report by the restructuring practitioner, Mr Hersee sold a property and paid $200,000 to Sage Painting, which had almost $1 million in debts. The $200,000 covered the restructuring practitioner's fee of almost $20,000, and the rest was split between creditors, which resulted in a return of about 18 cents on the dollar. "The business ceased trading on 4 March 2025 and was sold to a related party, Sage Painting Port Stephens Pty Ltd," the liquidator's report reads. "My investigations in the liquidation will focus on assessing the sale to ensure it was commercial. The company's director, Sean Hersee, advised me the reason for the company's failure was due to insufficient cash flow, poor scaling of the business and external market pressures. I will conduct independent investigations into the cause of the company's insolvency." Mr Hersee said since the restructuring, the business was in a strong position and delivering "outstanding work to our customers". "As a father, my focus is to set an example for my children - that challenges in life and business are inevitable, but it's how you respond, learn, and rebuild that defines your path forward," he said.
Scottish Sun
26-06-2025
- Entertainment
- Scottish Sun
Top dance DJ ‘gives away' he's playing secret set at Glastonbury with cryptic post
It's not the first time fans suspected a performer hinted a secret set rumbled? Top dance DJ 'gives away' he's playing secret set at Glastonbury with cryptic post FANS reckon a top dance DJ has 'given away' he's playing a secret set at Glastonbury - thanks to a cryptic post. The iconic music festival is taking place this year from June 25 to June 29. Advertisement 4 This year's Glastonbury is well and truly underway Credit: Getty 4 Fans think DJ Calibre is performing a secret set Credit: Instagram 4 It comes after he shared a cryptic Instagram post Credit: Instagram Writing online, fans have suggested Northern Irish DJ Calibre could be performing a secret set. It comes as the star- real name Dominick Martin - shared a cryptic post on Instagram. Calibre posted a short reel, which had the text: "Glastonbury Sets - Thursday - 9.30pm to 11pm Glade Dome. "Friday - 1.45am to 3am - Silver Hayes Level. Saturday - 9pm to 10.30pm", accompanying the last one with a "shush" emoji. Advertisement One follower commented: "Oh yeahhh Glasto hatrick inbound." Another added: "Where's the secret set any clues." Originally from Belfast, Calibre is well-known for his influence in the liquid funk style of drum and base. The DJ primarily releases his work through his personal label - Signature Recordings. Advertisement Meanwhile, it's not the first time an act "gave away" a secret set at Glastonbury. Fans of Queensland-based group Confidence Man insisted they have a spot on the Somerset festival line-up. TV star 'robbed of thousands' in Glastonbury ticket scam as she reveals heartbreak over missing festival They took to Reddit to ramp up the Glastonbury fever as one fan wrote: "Confidence man secret set. "They have effectively confirmed on Instagram that they are doing one, but does anyone know when it may be?" Advertisement The fan then clarified: "They posted about 'surprises' yesterday and then responded with this..." Following this, the fan then posted a screen grab of another telling sign. Who is Calibre? Real name Dominick Martin, Calibre is a DJ and drum-and-bass producer originally from Belfast. He has released 24 albums between 2001 and 2025, as well as 14 EPs. Most of his work is released through Calibre's personal label, Signature Records. Calibre's albums include the "Shelflife" series spanning from 2007 to 2023. It saw one fan ask the band: "Omg secret set," to which the band's page replied with a wide-eyed Emoji. Another mused: "Think they did Meat locker last year," referring to the festival's Meat Rack stage. Advertisement The band released their debut album, Confident Music For Confident People back in 2018. Elsewhere, some Glastonbury Festival revellers were left disappointed by Wednesday's opening ceremony - with the fireworks display said to be "dogged by sound issues."
