A DARLING Downs civil construction company has gone into voluntary administration, putting nearly 500 jobs at risk.
Dalby-based Ostwald Bros made the announcement this morning after it handed the reins to administrators PriceWaterhouseCoopers.
It is understood the decision was mainly based on the company’s ongoing contractual disputes with Nexus Infrastructure and works on the Toowoomba Second Range Crossing, as well as Seymour Whyte and upgrades to the Pacific Hwy in northern NSW.
Managing director Brendan Ostwald said he was “deeply saddened” by the decision, which encompassed all the company’s trading entities and operations.
“It is with deep regret we announce, we are placing Ostwald Bros Group and Ostwal…
Read the full article at: https://www.thechronicle.com.au/news/nearly-500-jobs-risk-firm-enters-administration/3217212/