Trouble-plagued builder Modco Residential has gone into voluntary administration blaming unprecedented industry challenges and intense media scrutiny.
Director Damien Clancy said in a statement released on Monday that it was a moment of profound sadness for the fledgling company that was launched to great fanfare less than two years ago.
Cynthia Lu and Yusuf Khan at the launch of Modco Residential.Credit: Facebook
Founded by Perth glamour couple Yusuf Khan and his wife Cynthia Lu in the middle of the global pandemic, a key pillar of the companys strategy was to guarantee cost-effective home builds within 20 weeks.
But as its customer base rapidly grew, its construction times ballooned, leaving behind a trail of broken prom…
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