Construction firm Mahercorp has entered voluntary administration, adding to a growing tally of homebuilders facing financial difficulties amid rising cost pressures.
Key points:
- The parent company for two homebuilders has told clients the move is due to rising costs
- Construction on about 730 homes will be paused for at least five weeks
- Mahercorp’s chief executive says the company has not collapsed and is not in liquidation
The construction of about 730 homes will be put on hold as Mahercorp, which is the parent company for builders Eight Homes and Urbanedge Homes, works with administrators.
The news comes in the wake of the collapse of construction firm Porter Davis, which left uninsured customers stranded and in need of government intervent…
Read the full article at: https://www.abc.net.au/news/2023-04-21/mahercorp-urbanedge-eight-homes-voluntary-administration/102253982