Some 32 staff have been made redundant at Brisbane NBN contractor Superior Broadband Services, which has been liquidated due to "cash flow shortages and changes in government policy".
Superior Broadband Services had operated since 2001, and at one point boasted a national field workforce of more than 120 skilled and qualified technicians and project officers.
David Ingram and Blair Pleash of Hall Chadwick were appointed liquidators on 13 July 2016. After an assessment, they deemed the company was not in a position to trade and it ceased trading.
The provider leaves liabilities of $2.9 million, with $1.7 million owed to unsecured creditors. The company also has a debtor book and assets worth nearly $1 million, reducing the total deficit to $1.9 million.
The Australian Taxation Office is the biggest unsecured creditor, with debts of $1.3 million. Other major creditors include Drilling Services Australia ($66,000), HowardCom ($42,000) and Master HIre ($23,000).
The liquidators do not expect unsecured creditors to see a return.
A Hall Chadwick spokesperson said: "The company previously provided subcontracted works in regard to the National Broadband Network. My office was advised that cash flow shortages and changes in government policy contributed to the company’s failure.
"The majority of debtors are subject to an invoice financing facility with a specific security over the company’s debtors."
Superior Broadband's track record includes data centre, cabling, optical and copper fibre, FTTP and other works for the likes of Telstra and Visionstream.
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