A major Gold Coast building company has collapsed into administration, leaving staff out of work, construction of more than 500 apartments in limbo and untold debts to suppliers and subcontractors.
Kathleen Skene Follow 3 min read July 26, 2023 - 1:56PM
Gold Coast Bulletin
Embattled Gold Coast building company GCB Constructions has collapsed into administration, leaving construction of more than 500 apartments in limbo and untold debts to suppliers and subcontractors.
Staff of the Varsity Lakes based company, which also has premises in Lismore, were told of the administration and terminated Wednesday afternoon.
Administrators David Stimpson and Adam Kersey of SV Partners have been appointed to pick through the finances of the company, which is subject to multiple court actions for alleged unpaid debts, including a wind-up application.
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