One Small Business Owner’s Story
I saw I was in trouble when the bank would not lend me any more against the farm. This home has been in the family for years and the thought of losing it was way too much. I called my financial advisor and my accountant, and they both instructed me to go and see Liquidators Canberra which I didn’t do, of course. I found this other liquidation company and they said that’s the only escape. I understood I had significant debt, but it just appeared like I had no choice. 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 most likely be protected. WRONG!
I found some Liquidators, they seemed professional and capable and they said they would help me as much as they could to overcome my money problems. I had no idea what was about to happen. They appeared to grasp my predicament; I had some money coming in and a sale of some machinery going through.
The moment I signed the paperwork the liquidators requested 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 each and every single thing; it was simply all gone. The next day my savings account was frozen and what I thought was going to be a beneficial situation turned out to be my worst nightmare. I lost everything!