Another Victorian building company has gone bust, weeks after the collapse of one of Australia’s largest home builders, Porter Davis, and construction firm Lloyd Group.
In a letter to clients on Friday, chief executive Steve Maher blamed “unprecedented challenges” but said the company, which oversees builders Urbanedge and Eight Homes, had not collapsed.“My intention is to work with the administrator on a plan that I hope allows us to restructure the business, creating a more sustainable footing and to complete your home,” Maher wrote.
“To ease the strain of these cost increases, for some months now we have been renegotiating our trading terms with our suppliers and insurers. Their support to date has helped us manage spiralling costs.”AAP
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