A construction firm in Queensland has collapsed owing $7 million and leaving nearly 50 projects unfinished.
LDC Pty Ltd, based in Brisbane, went into liquidation on Friday and becomes the first casualty in the construction industry in 2023.
The company owes creditors and subcontractors $7.03 million, the Courier Mail reported.
Liquidator Bill Karageozis, of Mcleods Accounting, said LDC, which launched in 2018, obviously owes a lot more than it owns in assets.
There are 48 building sites affected in South East Queensland and weve reached out to the Queensland Building and Construction Commission (QBCC) and theyre aware of the company going into liquidation.
They will contact the lot owners who have had partially completed contracts. W…
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