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A Queensland brokerage that diversified into building supplies, such as kit homes, has been wound up six years after opening for business.
Instyle Homes and Loans filed for voluntary liquidation earlier this month, with SV Partners appointed liquidator.
An SV Partners spokesperson said it had been advised by Instyle director Brad Ison that Instyle had debts of about $180,000.
The spokesperson told The Adviser that those debts were reportedly owed to staff, trade creditors and the Australian Taxation Office.
Instyle started trading in 2008, according to ASIC records. Mr Ison told The Adviser that Instyle had initially specialised in broking but had later focused on supplying building materials.
The Dalby firm marketed itself as “a complete one-stop shop” on its website, with its list of services including home loans, construction loans, kit homes and sheds.
“We can assist you to move into your new home on any budget. Our team will support you through each step from the finance to the building to completion,” according to the website.
Mr Ison, who was previously an FBAA member, said he had cancelled his credit licence and left his aggregator several months before the liquidation.
He said Instyle had been forced into liquidation by a challenging economic climate and a downturn in construction.
The first creditors meeting will be held on May 2.
