On 31 July 2023, Nathan Deppeler and Matthew Jess of Worrells as appointed voluntary administrator of Admikiri Pty Ltd, which trades as Bond Homes.
Bond Homes is a Ballarat-based residential home builder that has been building transportable homes for regional Victorians for nearly 35 years. Homes include relocatable homes, transportable homes, granny flats, bungalows, and park cabins.
At the time of the voluntary administration appointment, Bond Homes employed approximately 20 full time employees and had 16 homes under construction.
Due to the entity’s financial position the difficult decision to cease trading immediately was made by Worrells in conjunction with the director.
Mr Deppeler said, “the director appointed the administrators following ongoing cash-flow pressures, increasing supply costs, and general downturn in the industry.
It is early stages of the administration process and we are working to immediately establish the company’s financial position, including identifying assets available for realisation and quantifying creditors’ claims. We are conscious and understanding of the impact the appointment will have on everyone involved, particularly employees and customers.”
Creditors are urged to lodge a proof of debt via the Worrells website www.worrells.net.au.
Eligible employees have recourse through the government’s Fair Entitlement Guarantee Scheme for certain outstanding employee entitlements when company assets are unable to meet those debts.
Worrells advises it will continue to give updates as they become available.
Worrells is the leading brand of insolvency and turnaround teams. With local teams in Qld, NSW/ACT, Vic, and WA, Worrells also has the support of a national brand. Its teams have helped people and business recover from difficult financial situations and assisted the creditors attached for over 50 years.
–ENDS–
Nathan Deppeler
Principal, Worrells Western Victoria
nathan.deppeler@worrells.net.au