Richstone Group Pty Ltd: One in every of Australia’s largest plumbing companies goes below with 150 employees shedding their jobs and an astonishing sum owing to collectors

A significant plumbing firm in Victoria has collapsed with 150 employees instantly shedding their jobs.

Richstone Group Pty Ltd went into liquidation in June after a failed restructuring try to preserve the enterprise afloat. 

The corporate had simply $61 of their checking account on the time it went below, and owes a whopping $22million to collectors, in line with paperwork lodged with the company watchdog and seen by Day by day Mail Australia.

Administrator, David Coyne, stated the failure of the enterprise ‘gave the impression to be the debtors not paying their money owed in full’.

Extra to come back