One Small Business Owner’s Story
I figured out I was in strife when the bank would not lend me any more against the farm. This home has been in the family for years and the prospect of having to give it up was too much. I called my financial advisor and my bookkeeper, and they both instructed me to go and see Liquidators Gosford which I didn’t do, of course. I found this other liquidation firm and they said that’s the only way out. I understood I had significant debt, but it just appeared like I had no option. My accountant said that since I am paying for the liquidator and that it was likely going to be a voluntary liquidation that I would be taken care of. WRONG!
I found some Liquidators, they appeared professional and capable and these guys said they would help me as much as they could to work through my money problems. I had no idea what was going to happen. They seemed to grasp my situation; I had some cash coming in and a sale of some machinery going through.
The moment I signed the paperwork the liquidators asked for the keys and that was it. Everything was taken out of my hands, the sale of the equipment was completely taken control of, the money I had coming in was gone, they took control of every single thing; it was simply all gone. The next day my savings account was frozen and what I presumed was going to be a beneficial situation turned out to be my worst nightmare. I lost everything!