PBS owes more than $25 million to its creditors, although that figure could rise in the coming weeks as administrators take a closer look at the business.
"However, after months of intense efforts behind the scenes, in the end it was the only responsible course of action available." It said unprecedented challenges in the building industry were behind its collapse and warned it won't be the last company to fail. "We are the latest, but we won't be the last construction group to buckle under the weight of a broken industry and way of doing business that needs urgent reform."RSM Australia Partners Jonathon Colbran, Richard Stone and Mitchell Herrett were appointed as voluntary administrators for the five entities that make up PBS.
The Albanese government is doing nothing to protect an industry that employs over a million Australians. Sadly PBS won’t be the last