Blue Haven parent company under voluntary administration

Contrary to some media reports, Blue Haven is not under administration nor in receivership – however, restructured parent company Pool and Spa Builders has been placed in administration.

The recent media reports stating that Blue Haven has gone into administration (and some reports stating that it has gone into receivership) are incorrect and unfounded according to information from both Blue Haven and Cor Cordis Chartered Accountants.

In a statement, Blue Haven says it is still an extremely viable business which maintains the title as Australia’s largest pool builder.

The recent administration of Pool and Spa Builders (Aust) Pty Limited was a voluntary appointment by the company to facilitate the retirement for long-time industry pool builder, Ray Awadallah. Pool and Spa Builders had not traded for more than 12 months and has remained dormant during this period.

The company says that appropriate arrangements have been made to ensure that any matters arising are dealt with in the course of the company’s closure. Additionally, staffing, financial and warranty obligations have all been honoured well in advance of the company’s administration, according to the statement.

Blue Haven also says that the independent Blue Haven franchise owners are unaffected by the closure and will continue to trade under the Blue Haven Pools brand.

Insolvency specialist Cor Cordis is handling the administration of Pool and Spa Builders (Aust) Pty Limited.

Jason Tang from Cor Cordis says that Pools and Spa Builders Pty Ltd had previously traded as Blue Haven Pools, but had not done so following a restructuring about 12 months ago. At the time Cor Cordis was appointed, the company was not a trading or employing entity.

Tang says that as with most cases when a company goes into voluntary administration, it is because the company has trouble paying its debts. Cor Cordis will prepare a detailed report to be released to creditors in about three weeks but Tang did not want to elaborate at this time.

Tang says media reports fuelling the public perception that Blue Haven is in trouble are not correct.

“Blue Haven Pools as we understand it is not the entity which is in administration,” he says. “Also, some reports have said  Pool and Spa Builders is in receivership – that is not correct, it is under administration.”

Cor Cordis is essentially responsible for the company’s affairs during this interim period, and any relevant concerns can be directed to them on (02) 8221 8433.