Worrells Solvency & Forensic Accountants were appointed by the court, as liquidators of the Indooroopilly Bowls Club Inc on 9 October 2014. Morgan Lane and Michael Griffin, Partners in Worrells Brisbane are managing the liquidation, which is in its early days.
Worrells’ advises that unfortunately due to the club’s financial position, trade could not continue. And as such, the club has ceased trading and all employees’ employment has ceased with the club. All employees have been contacted about their outstanding wages and entitlements, based on known records, and have been given the information about the Government’s Fair Entitlements Guarantee Scheme for any claims.
It is sad to see the club in its current financial position given the history of the club. However, in part, a declining membership played a significant role in its viability. All function bookings are unfortunately unable to be honoured at the Indooroopilly Bowls Club Inc; however people who made bookings are have been invited to contact Club Toowong – Barefoot Bowls Functions and Bistro about holding their events at this location.
Worrells are determining the asset position of the club and assessing the options to realise the assets of the club. Any interest in purchasing the assets of the club (in full – in the first instance) should contact Worrells. An initial advice to all known creditors confirming Worrells’ appointment has been issued, with a view to issue a substantive report in the coming weeks when more information becomes available.
The future of the club is being discussed and Worrells appreciates the community interest in this unique property for its continued use and enjoyment.
—ENDS—
Interview:
Morgan Lane
Partner
Worrells Brisbane
Morgan.lane@worrells.net.au
07 3225 4330