Wellness company boss’ home repossessed as creditors circle

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The founder of a Melbourne health and wellness company that planned to expand into China with the assistance of former Liberal trade minister Andrew Robb has had his home repossessed after the business collapsed owing more than $11 million to creditors

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A security company acting on behalf of the mortgagee found three safes and several firearms inside the home, which were handed over to officers at Ringwood police station.The front door of the property at 2A Quamby Road, Ringwood North with a court order and QR codes posted on it. The Commonwealth Bank of Australia is the largest secured creditor to the company, with a debt of more than $3 million, while 80 unsecured creditors are owed almost $8 million by GBA, which owns the weight-loss supplement program Celebrity Slim.

 

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David's business has been hit hard by Melbourne's lockdowns, and he's still waiting for government supportVictorian business owners say financial support promised by the government has been hit by delays for weeks, and now sole traders and small companies are having their payments cut. Why should he and others be entitled to taxpayers money 💰? How hard has he been hit if he is still driving what looks like a Tesla? So many people have been hit hard by the pandemic. Some have had to rely on charities for cooked food each day as they have no income at all. Seriously, ABC, you suck. Struggling to make the Tesla repayments...
Source: abcnews - 🏆 5. / 83 Read more »