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In Brief: Lulu Investments in receivership

SECURED creditor Westpac has put a property company linked to the ambitious plans of Lulu Child Development into receivership. Lulu Child Development has previously announced plans to develop 30 specialist childcare centres nationally in a move reminiscent of the expansion of childcare giant ABC Learning Centres Ltd which nearly collapsed earlier this year. A spokesman for the receiver of Lulu Investments (Aust) Pty Ltd, Norman Oehme of McGrathNicol, said the company had 30 properties largely vacant around Australia which now will be put up for sale. Lulu Investments, previously called Land Alliance Investments Pty Ltd, is directed by John Miller of Dalkeith. On April 10 the company was placed into voluntary administration under George Lopez and Evan Verge of Melsom Robson. Mr Oehme said Lulu Child Development has two centres, one in Byford in the Perth hills and one in Tasmania, which remain operational and are controlled by other entities.

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