Were there employee entitlements outstanding when administrators were appointed to iconic Melbourne chain Fat 4? Yes, and suppliers had begun to circle too.
As reported earlier this week, the company was placed into administration on August 28.
Minutes from the first meeting of creditors reveal the company had outstanding employee entitlements at the time, including approximately $80,000 in unpaid superannuation.
A full employee entitlements schedule was still been assembled at the meeting earlier this month.
However, in addition to creditor claims, administrators also revealed the company had around $326,000 worth of stock at hand at the time of their appointment.
Administrators had also received a number of retention of title claims from suppliers, with recent legislative changes around property and security forcing them to seek legal advice on some claims.
"Each claim received has contained different terms and or agreements which has caused further delay in assessing the said claims," administrators advised.
"A response has been issued to the larger suppliers outlining the administrators position. The remainder of the claims are being attended to as fast as possible."
For more on administrations taking place in the sector, pick up Ragtrader's October edition.