TAMWORTH’S Good Companions Hotel will be shut indefinitely as creditors chase outstanding money and the administrator liquidates the company.
As revealed on The Leader website yesterday, the hotel closed its doors on Monday, May 18, after the company which runs the Brisbane St hotel was put into administration.
The Leader understands the company, Glentress Investments Pty Ltd, owes up to $600,000 in debts, but has some assets listed which could minimise part of the losses.
The liquidator did not return calls to The Leader this week and its still unknown how many local creditors are owed money by the company.
A meeting of creditors will be held in Sydney on Monday at TPH Insolvency, with several local businesses believed to be some of those owed money by the failed company.
A representative from The Pub Group confirmed yesterday they will attend the meeting to see if they can recover the money owed to their business.
Creditors have been told they need to submit formal notification to the liquidator by Friday to attend the meeting.
Esther and David Cameron took control of the lease of the hotel on September 15 from The Pub Group, after renovations to the Brisbane St building.
The Pub Group’s Bevan Douglas said the lessee put themselves into voluntary administration, but he said they could not make any decision about their next step as yet because it was in the hands of ASIC.
“Until such time as that’s been resolved, we are not in a position to say what will happen,” Mr Douglas said.
Last year, Mr and Mrs Cameron said they wanted to revive the accommodation rooms by the
middle of this year and were aiming to market the hotel as a fine dining experience for locals.
The couple moved to Tamworth mid-last year to take on the lease, with Mr Cameron working as an accountant at LBK solicitors in the city.