Hedley's highs and lows
THE ups and downs of Tom Hedley's years in business:
1969: Tom Hedley starts the Hedley Group, a humble plumbing business in Cairns.
1975: Buys his first pub, the Royal Hotel at Mareeba, to launch his foray into hotels and bottle shops.
1992: Establishes Hedley Constructions.
1992-2006: Over 14 years, the Hedley Group buys or develops 36 pubs and 75 bottle shops, amassing an annual turnover of over $750 million and employing 1600 people.
2006: Hedley sells his liquor division to Coles Myer for $520 million, becoming one of Australia’s 30
richest men.
2007: Hedley makes $11 million on the first day Hedley Leisure and Gaming Property Fund is floated on the stock exchange.
2007: He is listed as Queensland’s fifth richest person with a net worth of $715 million.
2008: Hedley Leisure and Gaming Property Fund called a halt to trade in its shares following the collapse of their price.
June 2009: Hedley quits as CEO of Hedley Leisure and Gaming Property Fund.
July 2009: Hedley resigns as director of Hedley Leisure and Gaming Property Partners Ltd just days before his empire collapses.
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