A company involved in the construction industry has gone bust leaving it $2.5 million in debt.
Melbourne-based company MadeCo, which was responsible for kitchen manufacturing, went into voluntary administration with 30 employees impacted.
Its failure has left 70 creditors left with unpaid debts including $620,000 owed to employees for annual leave, long service leave and superannuation.
Paul Langdon and Ian Grant from LangdonGrant were appointed as administrators in March.
A chain reaction from two other companies that went under, which owed MadeCo a total of $520,000, forced the company into voluntary administration, Mr Langdon told news.com.au.
The company was having financial difficulties for quite some time, but an insolvency event last …
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