Glam Modco boss’ FB Marketplace fire sale before collapse

Glam Modco boss’ FB Marketplace fire sale before collapse

The proprietor of failed boutique builder Modco Residential tried to unload her designer items on-line only a few months earlier than her firm collapsed.

Perth entrepreneur Cynthia Lu took to Facebook Marketplace in April in an try to promote various her luxurious items, three months earlier than her business failed.

The gadgets that stay unsold embrace a used pair of Valentino stilettos, a gold espresso desk and a child bouncer.

Cynthia Lu and Yusuf Khan have been forced to put their company Modco Residential into administration. Supplied
Camera IconCynthia Lu and Yusuf Khan have been pressured to place their firm Modco Residential into administration. Supplied Credit: News Corp Australia
She posted a picture wearing purple
Camera IconPerth entrepreneur Cynthia Lu took to Facebook Marketplace in April to promote some gadgets Credit: NCA NewsWire

Ms Lu began Modco Residential along with her now-husband Yusuf Khan in 2020, with the promise of 20 week builds for all purchasers.

But the WA firm entered into administration on Monday.

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The drastic choice comes as allegations of unpaid subcontractors, inactivity on initiatives and untimely calls for for progress funds encompass the troubled firm.

The firm is estimated to owe as a lot as $4 million to its 50 collectors.

It appears Ms Lu was doing her bit to make some extra cash by attempting to promote her designer items on-line however at a reduced charge, having slashed her costs after no bidders had been .

Source: www.perthnow.com.au