A Sunshine Coast boat builder has gone into liquidation, reportedly owing more than $900,000.
In a resolution filed with the Australian Securities and Investments Commission on March 23, notice was given that R and S Marine Pty Ltd, formerly trading as Galeforce Boats, would be wound up and SV Partners appointed as liquidator.
An initial liquidator’s report lodged with ASIC by SV Partners reveals the company’s total liabilities as $917,431. This includes $82,299 owed in employee entitlements and $278,852 to the Australian Tax Office.
The report lists the company’s total assets as $200 in cash.
Documents state that the company was registered in November 2018 and manufactured boats from leased premises in Yandina.
The company’s director is Scott Brough, who advised liquidators the reason for its failure was due to its inability to complete work and satisfy outstanding debts.
The report indicates the majority of the debts relate to: customers who have paid in full or part-paid for a boat they have not received; invoices for the proposed purchase of moulds; and amounts owing to the company from the director.
The liquidator’s report states that it appears unlikely any dividends will be paid to creditors and debts should be written off.
Sunshine Coast News has been in contact with several customers of Galeforce Boats who said they paid for boats or parts but never received them.
It’s believed some orders were worth up to $166,000, with affected customers as far away as Western Australia.
Scott Newman, from Moffat Beach, says he ordered a boat from the company in September 2021 but it never arrived.
“I would go to the Caloundra shed (when Galeforce Boats was based there), then up to Yandina when they moved, about every three to four weeks, and every time I went there was still no boat,” Mr Newman said.
“I was told that it was at his (Mr Brough’s) house to make room for other boats they were working on and then mine would come into the shed and be worked on, but it just never seemed to happen.
“I was promised I would have it in February 2022, then September 2022, then December 2022, then February 2023.
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“I went up there one day on a Monday in March to see what was going on. I’d planned so many fishing trips away with my dad based around promised completion dates and I was getting to the point where I’d cancelled so many trips that I was getting pretty frustrated.
“But when I arrived at the shed that morning I was told, ‘Scott’s gone, he hasn’t been here for a week and it’s all over’.
“But wait, I’m down 56 grand.
“For about two weeks, I thought it was a dream.
“From what I’ve heard there’s nearly a million bucks in people who have paid for boats (or parts) that don’t have them.
“Talking to the liquidators, there’s no money so no one’s going to get anything. Everyone’s just going to take it as a loss.
“I’ve got two young kids and we sacrificed so much family stuff and have spent the last four years saving to have a boat built and then it’s just gone … Our son is addicted to fishing and it was a huge thing for us. The boat was a way for us to keep close as a family and enjoy something all together by being on the water and going fishing.
“I think that is what hurt us the most is that you work so hard and sacrifice time to put money towards a dream. I’m broken that someone can just take that away from me as well as so many other people in the same position.
“I’ve got nothing.”
The appointment of the liquidator came after an application in November last year by Bizfund Pty Limited, trading as Trucap, was commenced to wind up R and S Marine Pty Ltd.
Sunshine Coast News attempted to contact Mr Brough and SV Partners but did not receive a reply.
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