Skye Wheatley’s business partner Lachlan Waugh has hit back at claims that his company Shopfit Co has fallen into financial difficulties after it went into external administration in August and was taken over by external insolvency experts.
Waugh says his business renovation company is still solvent, despite a failed deal to repay nearly $1 million to creditors.
The company entered a small business restructuring program and owes $927,000 to the Australian Taxation Office and thousands more to a number of small businesses and the Gold Coast Council, according to the Gold Coast Newsletter.
The publication reports that the administrator hired to examine Shopfit’s books discovered that the parties, including Lachlan, had borrowed $357,472 from the company, which could be recovered in the event of liquidation.
Stimpson’s report mentioned a property in the Gold Coast suburb of Tallai, where Lachlan and Skye had been documenting an extensive renovation on social media.
The report claimed that administrators had not been provided with accurate financial records and recommended that creditors reject the deal.
The rejection of the agreement means that the company is no longer under external administration and can no longer use the program to pay debts.
However, Lachlan claimed in a since-deleted Instagram story that the company was never in external administration.
Skye Wheatley’s business partner Lachlan Waugh has hit back at claims that his company Shopfit Co has fallen into financial difficulties after it went into external administration in August and was taken over by external insolvency experts. In the photo together
“There was never anything in external management, we’ve kept control of the company the whole damn time, so where’s the good publicity?” Where is? Lachlan wrote.
Speaking to the publication this week, Lachlan said the company’s loans were his way of “making a profit” from Shopfit.
“(Shopfit) made significant profits through the end of the September quarter and appeared to be solvent on its balance sheet,” he said.
Waugh says his business renovation company is still solvent, despite a failed deal to repay nearly $1 million to creditors.
‘There was never anything in external management, we’ve kept control of the company the whole damn time, so where’s the good publicity?’ Where is he?’ Lachlan wrote in a since-deleted Instagram story.
“Effectively, the loan balance represents the salary you would have received from the company over the number of years you accumulated.”
The company has been responsible for completing major renovations for cafes, bars, popular restaurants and high-profile brands including Red Rooster, Quicksilver and Sass and Bide.
Daily Mail Australia has contacted Waugh for comment.
The news comes after Skye Wheatley revealed she suffered from body dysmorphia after undergoing controversial fox eye lift surgery and other procedures in Turkey last month.
The social media star, 30, cried in an emotional video recently posted to TikTok and admitted the illness is “probably the reason” she underwent so many cosmetic procedures, adding that she was terrified that her two children would eventually suffer from the same condition.
Skye and Lachlan share two sons: Forest, five, and Bear, three.
The news comes after Skye Wheatley revealed she suffered from body dysmorphia after undergoing controversial fox eye lift surgery and other procedures in Turkey last month.
‘I know I probably have a mental illness and I know I have body dysmorphia’, the message I’m a celebrity… Get me out of here! The 2024 winner said.
‘I just put a lot of pressure on myself to be perfect. That would kill me and break my heart if my children went through that.
“I don’t want them to go through that.”
He also spoke about his failed childhood dreams and admitted that he had “father issues.”
‘When I was little I wanted to be a famous singer. “I dreamed of being a famous singer, but as I grew older I doubted myself more,” she said.