A South Australian civil engineering company involved in construction of perth’s $94.5 million Matagarup Bridge to Optus Stadium has gone into voluntary administration.
Administrators Ferrier Hodgson said an urgent assessment of York Civil’s financial position and the status of its contracts was under way.
“At this stage the company will continue work on the contracts which are subject to the administrators’ review,” partner Martin Lewis said.
Mr Lewis said meetings would be held with key stakeholders, including clients, ahead of a creditors’ meeting on August 16.
York and Italian construction company Rizzani De Eccher were selected as joint venture partners in 2016 to design and build the Swan River pedestrian bridge.
More than 100 of York’s 400 workers are in South Australia, but it also has branches in WA, Queensland and NSW. It posted a $1.7 million loss in 2016/17 compared to a $344,502 profit 12 months earlier, a financial report filed with the corporate regulator showed.
The Adelaide Advertiser reported that York director Ian Tarbotton, in the most recent financial report lodged in January, noted concerns with the operation of joint ventures and trading conditions within the industry in general.
Work is…
