Pinevale Villas residents have been told not to worry that the retirement village has gone into administration.
Pinevale Villas residents have been told not to worry that the retirement village has gone into administration. Cathy Adams

Residents told 'don't worry'

RESIDENTS and staff at Goonellabah retirement home Pinevale Villas have been told not to worry that the village has gone into administration.

Pinevale Villas Lismore Pty Ltd, the company that operated the facility, was placed in receivership on Friday, August 5.

It is being administered by the Brisbane branch of accountant and business advisory firm Grant Thornton.

The receiver has reassured residents saying it would be business as usual.

Mike McCann, business recovery specialist with Grant Thornton, said: “We will continue to operate the village as per normal.

“Everything will stay the same for the residents and the employees will have their jobs continued.”

According to Mr McCann, the company had got itself into difficulty with other projects.

Grant Thornton was considering the company’s financial position with a view to ultimately sell the facility, he said.

It is unclear how much money the company owes its creditors.

Pinevale residents spoken to by The Northern Star yesterday said they were unsettled after being informed of the company going into receivership.

However, residents had been reassured their homes at the facility were safe and that Pinevale would operate as normal.

The Pinevale facility, which was established in 2007, is comprised of one and two-bedroom villas and boasts an on-site restaurant.


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