IMPORTANT ANNOUNCEMENT
Re: Pentastar Parts & Restorations Pty Ltd. It is with the deepest regret and disappointment that I advise that as of Monday 10th September Pentastar Parts & Restorations Pty Ltd was put into Voluntary Administration after seeking advice on the companies financial position. There seems to be a number of rumours and innuendo surrounding details of our closure which I would like to put to rest. I was advised not to make this public personal announcement but I cannot sit idly by while these rumour and innuendo affects my family with callous personal attacks. I was the sole director of the company and no other Webb family member held an official company position and were employees of the company. The decision to place the company into administration was solely one made by myself as director and as a result of my concerns on the companies financial future. I had a legal obligation to do so and made this decision under the guidance of the administrators Mackay Goodwin. The website has been kept online under with restricted checkout options at the request administrators. No payments have been taken since Sept-10. I have come to reflect on this position and have in turn come to the conclusion that the website software license, domain name and intellectual properties are not the property of the company with the exception of the the Australian Company name which it traded “Pentastar Parts & Restorations Pty Ltd”. As such I have made the decision to remove the site permanently unless otherwise acquired to another individual or company or legally instructed to do so. This will take place by 5pm Sunday 16th September 2018. Contrary to current innuendo, upon vacating the premises only personal effects were removed from the building. Customer cars and belongings were identified and labelled. I personally contacted every customer with a vehicle within the companies possession and explained the companies position along with information to assist them with whatever information I had available to me on claiming their property. Furthermore, a partial stocktake was performed shortly before our closure and there remains a recorded $400,000 if owned stock at cost onsite plus machinery and equipment. Rumours and stories of us clearing out the premises are nothing more than misinformed, inaccurate and just plain ludicrous. The business of Pentastar Parts & Restorations has been around for 18 years and a passion of the Webb family. For the most part this was a thriving, sustainable venture however the past couple of years has been unkind to our family and at some point that changed. Nobody asks for these things to happen and I most certainly did not want it. As sole director at some stage I had to admit defeat after years of doing my best to keep things alive. I stand by the decisions made even though I did not always get it right. I have no intention or aspirations of returning to the auto parts industry, that chapter of my life has closed. Lastly, to those customers that are caught up in this administration I am am sincerely sorry that I couldn’t change this outcome. I valued the patronage and relationships we formed and I grieve for the loss of this company. I understand that people will be out of pocket in some capacity and although I’ve already received contact by many empathetic to the situation I also receive correspondence from many disgruntled and hateful people. To those people I would like to say that you will be pleased to know that my personal exposure and investment into this company is enough to financially cripple me, I won’t come out of this unscathed. But most importantly the hateful remarks, threats and innuendo affect my family. My wife, children and father are just as innocent in this as any creditor is and any threats of attending our residence will be dealt with seriously. If there’s one thing I’ve learned over the past few years it’s that sometimes we take the most important things for granted, I accept whatever come of me after all is said and done health and family is all that matters. My future without PP&R is unknown and I would argue with anyone who questioned my personal attachment to the future of the company. I have provided the administrators with a clear and concise list of creditors however if you believe you are a creditor and wish to claim against the company I have provided information below on how to do so. I would also like to add that I have no intention of adding or further participating to this post. Mackay Goodwin Address : Level 2, 10 Bridge Street, Sydney NSW 2000 Phone : 02-9220 7100 Email : rbrown@mackaygoodwin.com.au Ray Webb Jr