On 22 October 2019

Michael Griffin of Worrells Brisbane was appointed as liquidator to OM Mahalaxmii Pty Ltd on 27 September 2019. OM Mahalaxmii Pty Ltd operated two IGA supermarkets at the time of liquidation, which are independently owned and operated under the IGA brand.

Worrells is continuing to deal with relevant stakeholders regarding the operations of the IGA stores at Goodna, and Boronia Heights. The IGA Goodna store is being independently operated by a third party while a buyer is sought. The IGA Boronia Heights store is no longer being traded by Worrells and is now being traded by an independently operated third party under a licence agreement. Offers to buy the IGA Boronia Heights store have been sourced by Worrells’ engaged broker, which are being assessed.

Last Thursday, 17 October, the liquidator interviewed the company director, Mr Gaurav Bansal, who is assisting the liquidator with all inquiries into the affairs of the company. At that time, Mr Bansal provided the liquidator a Report on Company Activities and Property (ROCAP) as prescribed by the Corporations Act 2001, together with some company books and records.

The ROCAP identifies a number of employees with outstanding entitlements owing. Worrells is contacting those employees as a priority regarding their entitlements to assist them with lodging claims under the government’s Fair Entitlement Guarantee Scheme.

Mr Griffin said, “We are continuing to work with all stakeholders to get the best possible outcome for stakeholders, including the local communities in which these stores operate and for employees”.

Worrells advises that they expect to issue an advice to creditors shortly.

Worrells has 33 offices nationally and 29 partners, across Qld, NSW, ACT, Vic, SA, and WA. Worrells has been providing solvency management, insolvency administration, and forensic investigation services for over 45 years.

-ENDS-

Contact:

Michael Griffin | michael.griffin@worrells.net.au

Michael Griffin

Michael is a Registered Liquidator and a Registered Trustee in Bankruptcy. Michael is also a Member of the Chartered Accountants Australia and New Zealand, and the Australian Restructuring Insolvency & Turnaround Association. Michael's experience includes all forms of personal and corporate insolvency matters.

T: (07) 3225 4360 E: michael.griffin@worrells.net.au

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