BENDIGO Nando’s staff are unlikely to receive the $34,000 owed to them in superannuation, according to liquidator Nathan Deppeler.
And 10 small creditors, owed up to $8650 each, are also unlikely to receive any money.
Drangus Pty Ltd, which used to run the High Street business, is in liquidation, and Nando’s head office has taken over the site.
The bank effectively gets first dibs on any assets recovered
According to documents with Worrells Solvency and Forensic Accountants, Drangus owes secured creditor ANZ about $245,000.
Nando’s head office is owed $296,000 and the Australian Tax Office is owed $192,000.
Staff are owed $34,000 with smaller creditors owed $29,000.
Mr Deppeler said the ANZ would receive its money first as the secured creditor.
“What we do is determine whether there are any recoverable assests,” he said.
“The bank effectively gets first dibs on any assets recovered.
“It would only be the surplus recovered over what the bank is owed that would be returned.
“I don’t expect that there’s going to be a distribution to the employees or the tax office for superannuation,”
Documents show Drangus has assets of about $109,000.
Creditors were due to meet at Worrell’s office in Bendigo last Friday.
“The government covers all entitlements except superannuation,” Mr Deppeler said.
“At this stage, apart from assets recovered to reduce the secured creditor’s debt, there are no other funds available to unsecured or priority creditors.”
The Bendigo Advertiser has not been able to contact Dhru Macdonald of Drangus, who used to run the store, and Nando’s Australia has declined to comment.