NSW reseller goes under

NSW-based Macquarie Regional Technology has entered liquidation after the company struggled to cope with its growth.

Macquarie Regional provided IT solutions to businesses across western New South Wales and had offices in Gilgandra, Moree and Tamworth.

Daniel Gordon founded the company four years ago at the age of 19. Gordon said the company was placed into liquidation due to the toll it was taking on his health.

"My physical and mental health was starting to fail, and there's no point running a business if your health is starting to fail."

The company provided managed services and IT support for regional companies in western NSW. "We serviced quite a large area. Our service area was 40 percent of New South Wales.

"A lot of the work that we did was work with national IT companies. We were a reseller mainly for HP and Telstra."

The company was placed into liquidation under Rapsey Griffiths Insolvency after it failed to reconcile debts in excess of $338,000. 

Partner Chad Rapsey said the company went under as a result of mismanaged growth:

"It grew very quickly over a short period of time and that led to cash flow problems. The problem is the company didn't have a growth plan and as it grew it was funded through non payment of tax."

Among the company's largest creditors is the Australian Taxation Office who is owed $289,539. Other creditors include the National Australia Bank and Telstra which are owed $11,672 and $2,973, respectively.

The insolvency firm is trying to claim outstanding payments and sell off the company's assets. "We're trying to get about $30,000 in customer payments and outstanding bills. There are a few assets we need to sell. The plant equipment is probably worth $10,000."

Macquarie Regional Technology employed eight staff. Documents filed with ASIC revealed employees were made redundant.

However, former director Gordon said: "When I put the company into liquidation, I ensured all our staff continued on in employment. They've taken on employment with Bytecraft Systems."