Bundy business goes into liquidation
PETFORCE Bundaberg is in liquidation.
A general meeting of members last month resolved that five companies (Petforce Bundaberg Pty Ltd, Petforce Gold Coast Pty Ltd, Petforce Sunshine Pty Ltd, Petforce Hervey Bay Pty Ltd and Canberra Pet Supplies Pty Ltd) be wound up.
Following the meeting on June 21, Bill Cotter of Robson Cotter Insolvency Group was appointed as liquidator.
Mr Cotter told the NewsMail the decision to wind up the Petforce companies was mainly a strategic one and a choice that the company made on its own.
He said it had become clear to Petforce recently that retail was not a viable option for them, which prompted the company to take the approach of dealing with the issue before it became a more serious problem.
While it is understood there are a small number of creditors and related parties of the company, Mr Cotter declined to give further comment on potential claims or possible future dividends. However, he said he didn't foresee this winding up process to be complicated.