Metricon’s possible collapse is just the latest in the industry with a clutch of firms going bust, felled by a ‘perfect storm’ of problems putting billions at risk.
Benedict Brook@BenedictBrook 5 min read May 19, 2022 - 6:01AM News.com.au
The Australian building industry is now in full on “crisis” mode with warnings the country’s biggest builder Metricon is on the brink of collapse.
If Metricon fails it will join a long line of recent construction collapses including big name firms such as Probuild and Hotondo Homes.
A “perfect storm” of factors – from supply chain issues to instability caused by Covid – is smashing the industry leading major building projects worth billions of dollars to come to a grinding halt and to blow outs on some home construction projects by as much as $100,000.
On Wednesday, it was reported that Metricon was in emergency talks with clients after falling into financial strife just days after the sudden death of co-founder Mario Biasin.
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