Due to circumstances outside of his control, Family First Senator Bob Day will be retiring from the senate. He will leave behind a legacy of sacrifice, commitment and doing everything possible to improve the lives of everyday Australians. This is an untimely and sad moment for the Australian parliament and people.
In a statement released today, Senator Bob Day is resigning due to the unexpected collapse of his property business.
"With great sadness I am writing to let you know that earlier today, the Home Australia Group of companies went into liquidation.
The Group includes Homestead Homes (SA), Collier Homes (WA), Newstart Homes (Qld), Ashford Homes (Vic) and Huxley Homes (NSW)."
"Whilst 4 members of the group were profitable in 2015/16, problems and losses associated with Huxley Homes since 2003 have forced the rest of the group into insolvency."
This outcome will heave a huge personal financial toll on Day and his family.
"As I have always agreed to sign personal guarantees to creditors, this closure also has serious implications for me and my family.
Creditor liabilities greatly exceed our assets so we will also lose our family home" he said.
He has absolutely committed to solving the challenge that lays ahead.
"Having been in business for over 40 years, I am naturally devastated by what has happened and will do whatever I can now to assist those affected by this closure."
"I am incredibly sorry for the pain, stress and suffering I know this will cause."
I built my first house in Adelaide in 1979. By 1990 Homestead was SA's largest homebuilder and has been profitable every year since, for which I am very proud. But I made 2 big mistakes - 1. Buying Huxley Homes and 2. Going into politics without putting in place a proper management structure for the business.
I will be working closely with the liquidator and offering a proposal to enable me to find a way to pay back every debt fully, no matter how long it takes."
Unfortunately for the rest of Australia, this will mean we have one less senator who has dedicated his life to the improvement of his country, to sound public policy and to family values.
"As for my role as a Senator, I will of course resign" he closed.
We wish Bob Day and his family the best in overcoming this personal financial ordeal and we can only hope that his replacement will follow in similar footsteps to fighting for the values, independence and liberties of all Australians.