Client Overview

We were engaged by a concreting company that had been successfully operating for 17+ years.

Unseasonal ‘La Niña’ rains in recent years severely disrupted concrete pours. Compounding these challenges, persistent inflation throughout 2022 drove dramatic increases in the cost of steel, concrete, and labour, rendering many previously accepted quotes significantly outdated.

This resulted in the business accruing a tax debt of over $600,000, and a payroll tax debt of over $70,000.

If the business were to enter Voluntary Administration, it would lose its license and ability to trade.

Key Findings and Outcomes​

The Client’s Small Business Restructuring (SBR) plan was accepted which resulted in:

• Company was able to avoid Voluntary Administration
• Director was able to defend the DPN issued by the ATO
• 50 employees kept their jobs
• Company was able to retain the Company’s QBCC license and continues to trade into the future
• Company was able to “start fresh” and service $794k worth of liabilities for a total $177.5k
• Local suppliers and subcontractors retained the Company as a valuable client
• ATO will likely continue to receive income tax revenue from this business moving forward

Navigate Financial Crisis with Our Specialists

Don’t face financial difficulties alone. Our Restructuring and Recovery team specialise in creating tailored restructuring plans that address your unique challenges. Get in touch with our team to explore your options today.