'Just the start': Building giant Condev collapses amid 'challenging market conditions'

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The owners of the Gold Coast company say they are 'absolutely devastated' by the decision and will appoint a liquidator.

Gold Coast building company Condev has announced its collapse and will appoint a liquidator to manage the company's affairs.The collapse follows Probuild's earlier this year, which experts said was a sign of things to come

"We are absolutely devastated for the Condev family of employees, our tradespeople and our affiliates," Mr Marais said. "Although we are instructed that the company is currently solvent, the decision was made based on forward projections dictated by increasingly challenging market conditions including the exponential rise in material costs," Mr Cronin said.

 

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Belgique Dernières Nouvelles, Belgique Actualités