Homes half built, contractors owed thousands after building company collapse

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Contractors fear they will see as little as five cents in the dollar after a building company collapses in Hobart, leaving contracts for half-built homes torn up.

The liquidator says it will know in the next few days how many businesses, home owners and creditors are affected

Contractor Kyle Skipworth says it will take him years to recover from the debt left by the collapse of Multi-Res.He claimed he is owed $100,000, after the company failed to make a series of payments. "We've had to take out a small business loan to float the debt we're owed, with the intention that Multi-Res, in good faith, would pay the debt down and we'd be able to pay the loan off.

"Multi-Res were communicating with us that they were having some payment issues, but then the communication just kind of started getting less frequent and we were starting to lose confidence every day," he said.

 

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