Strand business bankrupt
MICHELLE McCracken, the wife of prominent Townsville businessman and former football star Jarrod McCracken, has been forced into bankruptcy.
Insolvency records show petitioning creditor Golder Associates Pty Ltd gained a sequestration order placing Ms McCracken into bankruptcy on March 3.
Gerard Collins and Matthew Joiner of PFH Chartered Accountants and Business Advisors have been appointed trustees over Ms McCracken’s assets and estate that can be disbursed to creditors.
Property records show Ms McCracken is the owner of the family’s 387.9ha Earlando property in the Whitsundays and the Watermark restaurant and three Watermark units on The Strand.
The Watermark complex was developed by McCracken group company Coast l i ne Constr uct i o ns ( Aust) Pty Ltd in 2006.
The company was placed in liquidation last year with debts recorded of more than $ 3 million.
The Earlando property was at the centre of charges against Jarrod McCracken for illegal tree clearing in 2007 for which he was fined $ 182,500.
Acreditor to Ms McCracken’s Watermark restaurant who complained last year about $7000 in outstanding bills and was issued with a ‘‘ notice of exclusion’’ by the restaurant, Townsville Wholesale Fruit and Vegetables managing director John Baran, confirmed yesterday he still had not been paid.
Property records show Mr McCracken owns four key properties in Townsville’s CBD including the Northtown retail and office complex acquired over the past 10 years for a total of about $ 10.75 million.