Construction giant Grocon has widened its wind-up after quietly placing three further corporate entities into administration on New Year’s Eve.
David RossJanuary 3, 2021 - 5:11PM The Australian Business Network
Construction giant Grocon has widened its wind-up after quietly placing three further corporate entities into administration on New Year’s Eve, including its troubled Northumberland Street development.
KordaMentha administrators Andrew Knight and Craig Shepard have been given the job covering Grocon Constructors (Victoria), Grocon Constructors, and Grocon (Northumberland St) Developer.
A creditors’ meeting for the three entities placed into administration is scheduled for January 13.
The three corporate entities placed into administration were notably not included in the much larger administration of 39 Grocon companies in November.
At the time Grocon indicated it had kept the $111m Northumberland Street project and the $730m Sydney project called The Ribbon out of the wind-up in hopes it could continue the projects.
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