Raj Khatri and Morgan Lane were appointed Voluntary Liquidators of Barlow’s Piping Pty Ltd on the 20th November 2014 pursuant to a resolution of the Board of Directors.
Barlow’s Piping is an earthmoving, concreting, mechanical, roadworks and works for a variety of poly-pipe and mining applications throughout Queensland, based in Gladstone.
Worrells held an auction at Barlow’s premises, in Gladstone and Callopie, last week to realise the company’s equipment assets. Worrells Partner, Lee Crosthwaite, said, “over 100 people attended the auction, with sizeable equipment including earthmoving equipment and specialist poly-pipe welders. The total value of the auction sales—one million dollars—is a good result in the current market, and will be welcomed by Barlow’s secured creditors. The outcome on any return for unsecured creditors is still unknown at this stage of the liquidation.”
Barlow’s was in operation for just over three years with a substantial turnover ranging between $13-20 million annually. Its boom was underpinned by the unprecedented gas pipeline projects in Central Queensland, which are now near complete.
Barlow’s Piping had a team of staff upwards of 70 people. Fortunately all employees were paid their outstanding entitlements prior to the directors appointing liquidators.
Worrells are working with the directors and suppliers affected by the business closure. Worrells’ preliminary comment on the reason for insolvency is the combination of the mining sector downturn, and the abrupt finish to the gas pipeline project, with no substantial work projected. Worrells appreciates the impact this has on the community.
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Interviews available:
Raj Khatri
Partner, Worrells Brisbane
raj.khatri@worrells.net.au
07 3225 4300
Lee Crosthwaite
Partner, Worrells Brisbane
lee.crosthwaite@worrells.net.au
07 3225 4300