Fears are mounting for the future of Metricon Homes, with the building giant in crisis talks with major clients, including the Victorian government.
Crisis talks are set to be held on Thursday with building giant Metricon as skyrocketing costs hit home, customers take aim at delays and insiders fear for the company’s future.
The Melbourne-based company, which claims it is “a strong viable business’’, will meet with state Treasurer Tim Pallas about an explosion in material and labour prices, as pressure mounts on builders struggling to meet contracts.
Internal memos seen by the Herald Sun have raised concerns about business cashflow and staff have been told “it has come to crunch time” regarding unsigned contracts.
The turmoil comes during an emotional week for Metricon, with the sudden death of founder and chief executive Mario Biasin, who the embattled firm said had been experiencing mental health issues.
Metricon founder Mario Biasin unexpectedly died earlier this week.
Metricon, which employs about 2500 people and is building thousands of properties across Australia, was last year ranked the nation’s biggest home builder.