Simone Homes Pty Ltd went into voluntary liquidation on Thursday, August 24 with insolvency firm PKF’s Bradley John Tonks acting as the company’s liquidator.
Many creditors are still yet to submit proof of debt claims with the amount owed expected to rise when they come in. “Having rich experience in delivering well-built homes, we are known for our exceptional and on-time services. With the proven track record of our workmanship, we are not just any Sydney builders but the ones who value your 'Dream Home' and strive to make it a reality.”Construction companies have been collapsing at an alarming rate over the past 18 months with ASIC insolvency statistics revealing 2213 businesses went bust during the 2022-23 financial year.
According to UNSW Business School banking and finance professor Dr Peter Swan, there are several factors contributing to the grim state of the construction industry.