The crisis in the construction sector is intensifying with one of Queensland’s largest builders telling subbies it is unable to pay them until it receives additional funds into its bank account.
Glen Norris Follow less than 2 min read August 6, 2022 - 5:33PM The Australian Business Network
One of Queensland’s largest builders has told subbies it can’t pay them until it receives additional funds into its bank account.
Underwood-based Oracle Building Corp (which trades under a number of names including Oracle Platinum Homes) made headlines earlier this year when it sought tens of thousands of extra dollars from clients to complete their homes amid the deepening financial crisis in the construction sector.
Clients continue to complain about lengthy delays, some of up to a year, to complete new homes.
Oracle director Tom Orel wrote to tradespeople on Friday that the company was “still waiting for a number of external settlements which have not occurred and we...