Another two building companies have collapsed in WA amid a huge crisis in the Aussie construction industry, leaving at least a dozen homes unfinished. Perth-based boutique home builder Royal Construction and Design went into liquidation on Tuesday, August 8, according to a notice published by ASIC. Just a few daysContinue Reading
Building companies are dropping like flies and two more have collapsed just days apart, leaving homeowners and tradesmen reeling. On June 26, NSW-based luxury builder Millbrook Homes collapsed into liquidation owing more than $4 million to roughly 80 creditors. Then just four days later, on June 30, Victorian residential constructionContinue Reading
Building companies are falling like dominoes and yet another one has been added to the heap as it became the latest victim of the crisis on Tuesday. Perth-based builder Flexible Homes Pty Ltd went into voluntary liquidation on Tuesday, according to a notice filed with the Australian Securities and InvestmentsContinue Reading
A Sydney-based construction company, owned by a Rich Lister estimated to be worth billions, is looking to expand across Australia by taking over projects from other failed builders. Roberts Co is investigating taking on commercial projects that were being run by collapsed Victorian builder Lloyd Group as it could potentiallyContinue Reading
An ASX-listed mega building company is laying off 10 per cent of staff as the construction industry teeters amid tough market conditions. On Tuesday, Melbourne-based residential builder Simonds Group put out an ASX announcement with vague references to troubled times, citing “prevailing market conditions” which was a “challenge” for theContinue Reading
Australia’s thirteenth largest home builder Porter Davis Homes has collapsed suddenly placing 1700 projects in jeopardy across Victoria and Queensland, while another major construction firm has also gone under. Porter Davis Homes, which employs 470 staff members, appointed liquidators on Friday after failing to find someone to save the firm.Continue Reading
Two more building companies have collapsed less than a week after the construction sector was shaken by the collapse of a multimillion dollar firm with a foothold across three states. Queensland-based National Construction Management Pty Ltd went into liquidation on Friday while Allworks Building Pty Ltd, a NSW company, collapsedContinue Reading
Another building firm has joined a long list of casualties in the sector after it went into voluntary liquidation. Last Friday, Brisbane-based residential builder Pantha Homes Pty Ltd collapsed. Then this Tuesday, a notice was put out about its liquidation status. William Roland Robson of Robson Cotter Insolvency Group hasContinue Reading
The “perfect storm” that wreaked havoc on Australia’s construction industry is showing signs of easing, but the sector’s top body still predicts a tough road ahead. There was a 5.2 per cent drop in the construction of new homes over the September quarter — down 21.2 per cent since SeptemberContinue Reading
A Sydney home builder has been criticised for an “unfair” contract clause that threatened legal action if customers publicly complained. This week, Australian Competition and Consumer Commission deputy chair Mick Keogh said residential home builder Fowler Homes had agreed to quit gagging customers from publishing negative feedback. The clause alsoContinue Reading