A few anxious customers were outside the closed gates of the failed Bee-Jay Machinery business on Goulburn Valley Hwy in Shepparton on Tuesday morning, wondering what would become of deposits they had paid for tractors and other machinery.September 2, 2014 3:10am
A printed sign on the fence read ‘‘business closed’’ and a guy who wasn’t answering questions made sure the gate remained shut as he supervised and photographed the removal of a tractor and hay-making machinery onto a low loader and a truck.
Hamish MacKinnon of insolvency firm Bent and Cougle was appointed liquidator of Bee-Jay Machinery and Tractors R Us on Monday by the directors of those companies.
Mr MacKinnon said seven staff had lost their jobs and as liquidator he had started the process of recovering funds on behalf of creditors.
News of the closure spread quickly, with shocked staff taking to Facebook to voice their dismay.
‘‘The Gorman family are completely devastated,’’ Mr MacKinnon said.
‘‘It wasn’t until late on Friday and over the weekend that they decided they couldn’t continue to operate and decided to appoint a liquidator voluntarily.’’
He said the number of creditors was small, with banks and finance companies sharing the major exposure.
Bee-Jay machinery was started by Daryl Gorman, who turned his hand to selling tractors 40 years ago because it was more attractive than farming.
In 2012, Mr Gorman told Country News he had survived fluctuating commodity prices, energy crises, credit squeezes, floods, droughts, changing international markets and high interest rates during his four decades in the business.
Mr MacKinnon said the prospect of a dry summer and an extended period of poor trading conditions had influenced the directors’ decision to act and appoint a liquidator.
A meeting of creditors is expected to be called within a fortnight.
Organisers of the Goulburn Valley Ladies 60-and-over bowls group are rapt with the response to the group's first day of play.
Paradise Queen owner Travis Smith is preparing to take on hundreds of runners at this year’s Yarrawonga Mulwala Multisport Festival to be held on October 18-19.
Goulburn Valley Fins and Fenders Car Club is getting ready to host its second annual Show and Shine event at Tatura Racecourse on Saturday, October 18.
Residents are being warned they could face severe penalties if out of control burn-offs damaged someone else’s property.
The Nanneella hall and recreation reserve committee is inviting everyone to join its clearance sale on October 25.
National Party ticket up for grabs
Developer of the Elloura estate wants to build another road to Buckley Park among other changes.
Terry Hogan has stood down as Mayor of Jerilderie Shire due to an ongoing battle with cancer.
Heathcote Community House staff are encouraging people to send a postcard to show their support.
Minister for Local Government and Aboriginal Affairs Tim Bull visits Cobram to assist councils and incumbent MP.
Keen Deni Ute Muster fans rolled into town early for the weekend's event.
The only consistent thing about frost damage in crops was its random nature, a cropping expert told his field day audience at Finley last Friday.
Last week's Coledale poll dorset stud ram sale was the best in the stud's 45-year history.
Discover unbelievable local deals from local businesses every week in the Goulburn and Murray Valley area with Leapon.com.au!
Search properties for sale or rent across North Central Victoria and Southern NSW. Visit your local website for local homes....
Search for published and unpublished photos from McPherson Media Group newspapers and magazines. All our photos are available to purchase.
Place an advertisement in any one of McPherson Media Group's local newspapers.