NO EFFECT: Worrells says tenants and property owners with Good Real Estate will not be affected by the company's liquidation.
NO EFFECT: Worrells says tenants and property owners with Good Real Estate will not be affected by the company's liquidation. KentWeakley

No impact on tenants, owners as real estate firm liquidated

TENANTS and property owners with Good Real Estate Gladstone have been reassured the company's liquidation last week will not impact them.

Jeygar Investments, which trades as Good Real Estate Gladstone, was liquidated on Thursday after entering voluntary administration on April 11.

Worrells Solvency and Forensic Accountants, which managed the process, released a statement yesterday confirming Good Real Estate was still trading and its staff were being retained as the company looked for a buyer.

New management and sale listings are also still being accepted.

Good Real Estate's director identified several factors that contributed to the company's insolvency and subsequent liquidation.

Those factors included the industry downturn, the following slump in Gladstone's economy and the company's continued trading losses.

Worrells said Good Real Estate's administration process was still "in its infancy", with liquidator Morgan Lane only now calling for creditors to lodge a formal proof of debt online through Worrells' website at www.worrells.net.au.

Reports to creditors will be issued shortly after statutory investigations are completed.



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