Parramatta. Wincrest still invoicing

The Parramatta-based family-owned, Wincrest Homes, is still invoicing customers after the company was placed in voluntary liquidation, in December, ceasing the construction of 130 homes. Creditors were told this at a meeting at the Crowne Plaza.
Administrator, Bruce Gleeson, of Jones Partners, told the meeting the company's directors were developing a proposal to contunie trading. Mr Gleeson will meet creditors again on March 3 to continue trading or go into liquidation. The company has debts of $12 million

Parramatta. Wincrest Homes in administration

Wincrest Homes, a Parramatta-based family company has gone into voluntary liquidation, with about 100 homes under construction and owing $12 million. Bruce Gleeson, of Jones Partners, who has been appointed administrator, said Wincrest confirmed owing $6 million to its secured creditor, St George Bank, $4 million to tradespeople and contractors and a further $2 million to related parties, The Sydney Morning Herald reported. In addition to homes under construction, Wincrest is believed to have taken deposits from a further 20 customers