10 February 2012: Mr. Stephen Parbery and Mr. Mark Robinson of PPB Advisory have been appointed as Voluntary Administrators of Boronia Investments Holdings Pty Ltd (formerly Kell & Rigby Investments Holdings Pty Limited) and associated companies.
The Director of Boronia Investments Holdings Pty Ltd (formerly Kell & Rigby Investments Holdings Pty Limited) and associated companies have today appointed Mr. Stephen Parbery and Mr. Mark Robinson of PPB Advisory as Voluntary Administrators of the group.
Kell & Rigby is a NSW-based construction business with offices in Sydney, Canberra and Brisbane. The business is currently managing numerous building projects throughout Sydney, the Southern Highlands, ACT and Brisbane.
Prior to the administrators’ appointment, Kell & Rigby were in negotiations with a party regarding a proposed investment in the business, however negotiations around this transaction did not progress.
Subsequently, another publicly listed entity has expressed interest. It is the intention of the Administrators to continue discussions with this party to maximise the likelihood of the sites continuing, and to optimise the position of employees, sub-contractors and clients.
PPB Advisory will be working with each of the respective clients of these projects to facilitate, where possible, their ongoing management and completion to minimise losses and disruptions to employees, contractors and clients.
In addition, PPB Advisory is working closely and cooperatively with relevant Union representatives.
Wages and superannuation for all of Kell & Rigby’s employees have been paid up to date.
The first meeting of creditors will be held on Tuesday 21 February 2012, time and location yet to be confirmed.
Further information please contact:
Ben Jarvis: 0413 150 448
Matt Paterson: 0402 140 757
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