THE Australian Taxation Office is trying to close an Albury business in a bid to recoup money, with administrators appointed to the company.
Documents filed with the Australian Securities and Investments Commission by Albury Glass director Terri Lowe show the business owes nearly $300,000 to other companies.
The owed money ranges from a few dollars, up to $86,670 for one business, $78,588 for another and about $30,000 for another company.
A further $500,000 is reportedly owed to the tax office and $100,000 in superannuation guarantees.
A further $60,000 is owed to the National Australia Bank, nearly $350,000 to directors, and about $20,000 in NSW workers' compensation.
The office of state revenue is listed as being owed more than $30,000.
PJC Distributors owner, who asked to be referred to only as Peter, said he wasn't confident of being paid the $10,000 owed to his business.
"I've been in this situation a few times," he said.
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"I've never seen any money come our way from creditors.
"Usually when it gets to this situation - I've been in this situation a couple of times - I've never seen a cent.
"I'm not terribly hopeful."
A representative of PJC went to a recent creditors meeting and Peter said he would attend the next meeting.
Another local businesswoman, owed more than $3000, shared a similar sentiment.
"I'm not really confident," she said.
Albury Glass is itself owed $228,090 from other businesses, according to the director, and has equipment and stock worth $135,000.
The deputy commissioner of taxation launched winding up proceedings against Albury Glass in the Federal Court in March.
The administrators, RSM Australia Partners, were appointed last month.
The application to wind up the company, formally known as Exvon Pty Ltd, was heard in the Federal Court earlier this month, and will return on May 29.
A creditors meeting was also held at the Commercial Club on May 3.
The South Albury business has continued to trade despite the concerns.
The company was first registered in December 1991.
Calls to the company and administrator were not returned.