A veteran Queensland builder has collapsed with debts topping $20m after a rescue plan from its directors failed to materialise, leaving several major projects in limbo.
Kathleen Skene follow less than 2 min read April 15, 2025 - 4:23PM
Courier Mail
A veteran Queensland builder is in liquidation with debts topping $20m after a rescue plan from its directors failed to materialise.
Administrators revealed in March the company owed more than $20m and had been under financial pressure for five years, after multiple loss-making projects.
“Preliminary investigations indicate that it is suspected that the Company did trade while it was insolvent,” their report said.
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