Sarah Danckert, Simon Johanson, Najma Sambul, Josh Gordon and Rachel Clun
Updated March 31, 2023 — 6.35pmfirst published at 8.55am
Australia’s construction industry is reeling after one of the nation’s largest home builders and a prominent civil construction group collapsed on the same day, sparking warnings that more groups will go to the wall as costs increases bite and demand weakens.
The collapse of Melbourne-based Porter Davis, the country’s 13th largest home builder, immediately stopped work on Friday on the 1500 homes it had under way in Victoria – and another 200 in Queensland – after it was unable to find a last-minute buyer or financial backer to cover a funding shortfall estimated at as much as $20 million.
SU Note: 20 million my arse, they have not been paying subbies for months.
How about all you cretinous Victorian builders stay south of the border, we already have enough crooks in Queensland to sink a ship.
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