Stores still trading as company goes bust
A SUNSHINE Coast company that owned two local supermarkets has gone into liquidation owing almost $250,000 to creditors.
The company behind the Kawana Island Friendly Grocer and Forest Park Foodstore at Meridan Plains, Yasnis Pty Ltd, has been listed on the Australian Securities and Investments Commission as in liquidation.
Revive Financial liquidator Jarvis Archer said the company had sold its two business to unrelated purchasers prior to liquidation and the stores were still trading.
"Following the sales, the company owed various debs to creditors totalling approximately $247,000," he said.
"These amounts are owed primarily in respect of bank loans and other finance and energy bills. As the company could not pay these debts it was insolvnet and appounted a liquidator."
On Thursday, April 18, it was decided the company would be wound up after a general meeting, according to ASIC.
Owner of Yasnis Pty Ltd, Hamnshu Patel, moved to the Sunshine Coast from India in 2011 to make a better life for himself, his wife and two sons.
Mr Patel told the Daily in 2013 that the Kawana Island business was being harassed by out-of-control youths who taunted him with racist remarks and vandalised his store and home.
The company is no longer trading and will not open another business.