As a result of the escalating cost pressures, construction firm Mahercorp has decided to enter voluntary administration.
Mahercorp, the parent company of Eight Homes and Urbanedge Homes, will halt the construction of approximately 730 homes while working with administrators.
The development follows the collapse of Porter Davis, which left uninsured customers stranded.
In a statement to customers, Mahercorp CEO Steve Maher emphasised that the company was not in the same predicament as Porter Davis.
He said that his goal was to work with the administrator to develop a plan that would allow the company to restructure.
Mr Maher attributed the decision to enter voluntary administration to the rising costs of building and labour, as well as infla…
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