A south-east melbourne/index.html” id=”mol-c5b73a50-5f74-11f0-a2e1-a54cbc0a812e”>Melbourne builder has collapsed owing half a million dollars to creditors.

GJC Builders (Vic) Pty Ltd, based in Cranbourne West, entered liquidation on June 23. 

It owed 20 unsecured creditors a total of $514,944, which includes $167,709 to the Australian Taxation Office (ATO). 

The company also owes $7,298 to Allianz Australia in workers compensation, $8,827 to Bunnings, and $1,492 to Westpac. 

insolvency accountants Adam Cormack and Jonathon Colbran from RSM Australia Partners were appointed as liquidators.

They reported the company had no cash at bank at the time of collapse and held $27,594 in other assets, though it was unclear whether it would be realisable.

According to Australian Securities and Investments Commission (ASIC) records, the business was registered in 2008. Giacomo Cosentino was listed as its director.

A restructuring practitioner was appointed to the company in April this year. 

A Melbourne-based building company has gone under, owing more than half a million to creditors (stock…