Another Gold Coast construction company collapses amid rising costs

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The managing director of Pivotal Homes says employees and contractors have been paid in full, but that operations are unviable due to a set of circumstances he has never seen in the industry.

Gold Coast construction company Pivotal Homes, which has built more than 1,500 homes during its 15 years of operation, has been placed into liquidation.Its director says rising costs have made operations unviable"Unfortunately, the rising costs which are impacting many in the industry throughout Australia have made our operations unviable," managing director Michael Irwin said on Thursday afternoon.

"We are absolutely devastated for our 16 Pivotal Homes employees and assure all creditors, contractors and subcontractors have been paid in full."

 

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Dodgy and dodgy bros let us screw it up for you

It's not rising costs that are the issue, it's the market forces that push down demand.

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