Two companies that made up a major Queensland construction firm have collapsed, leaving nearly 1000 creditors more than $80 million out of pocket.
At the end of last month, news.com.au reported that Allroads Pty Ltd had gone into in liquidation owing $24 million to 721 creditors.
Another subsidiary of the business, Allroads Plant Pty Ltd, also collapsed that month.
In a document obtained by news.com.au in recent days, the appointed administrators of Allroads Plant have revealed that the company owes an eye-watering $59 million.
All up, that means across these two companies, creditors are owed $83 million.
The Allroads construction group specialised in civil construction and had taken on a number of major road and defence projects in Brisba…
Read the full article at: https://www.news.com.au/finance/business/other-industries/monster-group-of-construction-companies-collapse-owing-more-than-80m/news-story/3586aa9e510f70717fadb0c63b56feb4