Construction companies collapsing at record rate as building slowdown bites

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New figures reveal the number of construction companies going under in NSW hit its highest level in four years last quarter, as experts raise concerns about phoenixing.

Association of Independent Insolvency Practitioners president Stephen Hathway said there was no doubt the industry was"stressed".

"It's a spiral, and it's always a bit of a scurry at the end to make sure you get paid before it all falls over." Experts have also pointed to the trend of"phoenix activity" in NSW — where a new company is created to continue the business of a company deliberately liquidated to avoid paying its debts, taxes or creditors.

 

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Sea container homes.

It'll be the buildings themselves in a few years.

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