The former headman of fallen whitegoods distribution franchise Kleenmaid has pleaded guilty to three charges relating to the business’s collapse.
Gary Collyer Armstrong appeared before Brisbane District Court Monday on a charge of dishonesty gaining a loan of $13 million in 2007, as well as two counts of insolvent trading relating to debts of about $3.5 million dating back to 2008.
Kleenmaid had about 200 staff and 15 retail franchises before it collapsed in 2009 when liquidators reported consolidated debts of close to $100 million.