Corporate collapses in Queensland’s building sector have cost more than $100m so far and the bloodbath is set to continue. We reveal the top industry failures of 2021.
Glen Norris Follow 3 min read December 31, 2021 - 12:00AM The Australian Business Network
The past year has been a rocky one for Queensland’s building industry with the collapse of scores of construction firms leaving more than $100m in debt and creating havoc for hundreds of homeowners.
Pandemic induced shortages of everything from timber to bathroom fixtures have forced prices to skyrocket creating a perfect storm for builders trying to fulfil contracts.
TOP QLD BUILDING INSOLVENCIES OF 2021
PRIVIUM (IN LIQUIDATION, NOVEMBER)
One of the country’s top residential builders Brisbane-based Privium has estimated losses of $80m with about 2000 homeowners affected across the country. The company was founded in the 1990s by a former Tasmanian carpenter Rob Harder.
BA MURPHY CONSTRUCTIONS (IN LIQUIDATION DECEMBER)
The Sunshine Coast firm, operated by third-generation builder Ben Murphy, has left behind debts of about $3m and impacted about 290 customers.
PLANBUILD (IN LIQUIDATION APRIL)