Part of major property developer Caydon Property Group has collapsed and been placed into liquidation. The company says it has been dealt one difficult market situation after another, pointing the finger at prolonged COVID-19 lockdowns in
Parts of multi-billion dollar developer Caydon, which is behind hundreds of apartments in melbourne, have gone into liquidation. Joe Russo, managing director of the prominent Asian-backed developer, said the company had been dealt one difficult market situation after another in the last few years, including prolonged Covid lockdowns. The latest “confronting” challenge was pricing factors…
A succession of market hits over the past few years has combined with the latest inflationary pressure on the construction industry to claim another high-profile victim with liquidators appointed to part of melbourne’s Caydon Group. Hong Kong-based financier OCP Asia called in receivers to subsidiaries of Caydon Group, after liquidators were appointed to the company…
A melbourne-based building company has collapsed with approximately $1 million in outstanding debt owed to 50 creditors, according to the liquidators. The construction firm called Blint Builders Pty Ltd went into voluntary liquidation after news.com.au revealed a number of homeowners were experiencing a “horrendous” amount of stress as they had poured hundreds of thousands of…
The Big Picture People Store at South Morang g in Victoria, has been placed into liquidation with debts in excess of $1.2M. Part of the Big Picture Group the business was placed into liquidation back in April 2023, the liquidators are melbourne based Cor Cordis. According to Mitchell Cordis from Cor Cordis the unsecured debts…
Asked about his financial difficulties, Doherty told The Sunday Age that postponing the event four times, after restrictions forced him to shut the 2020 event one week after the melbourne grand prix was cancelled, had cost him $1.6 million. Loading “It’s pretty hard to recover from,” he said. “It is correct that the pandemic devastated…
A whopping 401 creditors are unlikely to receive a cent of their lost money from a collapsed building firm unless the liquidator can find a “pot of gold” buried among the company’s limited assets. In January, melbourne-based residential builder Hallbury Homes went into voluntary administration. The firm owed between $8 million and $12 million to…
Toys R Us could be making a return to Australian shores, with the toy retailer announcing plans to open “one of the largest” toy stores in the country in melbourne’s southeast. The proposed Clayton store would stretch more than 3000sq m, combining a Toys R Us and Babies R Us in an “experiential retail centre”.…
Yet another building company has collapsed, making it the fifth building company this week revealed to have gone under amid an industry-wide crisis. News.com.au can reveal that on July 11, melbourne-based residential builder Construct Homes Pty Ltd went into receivership. Oak Capital Mortgage Fund appointed Sam Kaso of insolvency firm Cor Cordis as the receiver.…
When melbourne restaurant-to-retail company Calia went into voluntary administration in June, its co-founder Jason Chang laid bare his struggles as a small business owner in an open post on social media. Chang, who is also a City of Melbourne councillor, made the emotional revelation that he had “broken down in city council” while recounting the…