A building firm has collapsed owing more than $6million to creditors.
Insignia Homes, which is based on the gold coast, has stopped all work on its sites after going into liquidation on Monday.
This leaves a confirmed eight Insignia sites to languish despite the homes being near to completion in the Queensland cities of Toowoomba and Logan.
However, a contractor told the Gold Coast Bulletin there are many other builds stalled at earlier construction stages.
The company’s sole director Kevin Ross said it’s ‘a sad time for everyone involved’ but declined to answer further.
Gold Coast builder Insignia Homes has gone into liquidation leaving at least eight sites unfinished
Liquidator William Robson of Robson Cotter has been appointed to distribute company assets.
Shares in the company are held by Keven Ross’s wife Lee Ross via a holding company with the rest of equity held by another company directed and held by Queenslander Peter Ramsay, 73, and his wife Brenda.
Mr Ramsay has declined to comment.
