By Claire Reilly
Following weeks of speculation surrounding the fate of troubled electrical warranties and service provider United Warranties, the company has collapsed this week. Current.com.au exclusively reported that United Warranties was on the brink of collapse several weeks ago.
Matt Byrnes and Andrew Hewitt of Grant Thornton were appointed liquidators of U-Nited Warranties Pty Ltd (as it is officially registered) as well as two associated companies U-Nited Maintenance Pty Ltd and United Electrical Holding Company Pty Ltd.
The liquidators are set to conduct a formal investigation into the company and its affairs, reporting relevant findings to the Australian Securities and Investments Commission.
Speaking about the process was Grant Thornton partner, Matt Byrnes.
"The warranty and maintenance businesses are no longer trading," he said. "We will be liaising with Myer, Big W and other providers in relation to any warranty claims that have not been completed, and arranging for items to be collected by those providers."
The liquidators are set to hold a meeting of creditors on 19 July. The liquidators advised that creditors would be presented with a report on the affairs of the company and a statement from "one of the directors" at this meeting. It is unclear whether the figurehead of the company, Vern Rickman, will be responsible for providing this statement.
Affected customers are advised to contact their individual retailer or supplier with any concerns regarding the liquidation process.
It is expected that the fallout from United's collapse will be far reaching. A large number of consumers and resellers have contacted Current.com.au to express concerns about the company's lack of communication and the large sums of money that it allegedly owes its customers.