Suppliers owed millions after Victorian installer collapses

Melbourne-headquartered solar company G-Store Pty Ltd has collapsed with the administrators, PCI Partners, revealing that more than 100 creditors are owed a combined $3.8 million.

G-Store, founded in 2007, was placed into administration on 2 February 2024 with Newscorp outlets reporting that the company’s sole director had been diagnosed with cancer.

PCI Partners said the employment of the majority of the company’s workers was terminated on 7 February 2024 with the remaining staff dismissed by close of business on 13 February.

In a statutory report lodged to the corporate regulator, PCI Partners said G-Store had total liabilities of $3.8 million and more than 100 creditors.

The administrator said the company owes 139 unsecured creditors $2.2 million, while secured lenders are owed the remainder of the $3.8 million debt.

The list of unsecured creditors includes customers who have paid for solar systems to be installed, but those installations have not occurred.

“The company did not complete a number of works for which it had received deposits from customers,” the report reads. “Unfortunately, these customers will now rank as unsecured creditors for the deposits paid to the company.”

G-Store, which had a head office was in the Melbourne suburb of Malvern East and another showroom at Warragul in southeast Victoria, specialised in installing solar systems and associated renewables technologies for residential and commercial customers throughout Victoria.