A major building company has collapsed with the majority of staff sacked and $120 million worth of projects up in the air.
Project Coordination (Australia) Pty Ltd, which had been in business for 50 years, went into voluntary administration on Tuesday afternoon.
The business had offices in Canberra and Wollongong and did construction work in the ACT and NSW.
At the time of its demise, Project Coordination had $120 million worth of projects on its books and a further $90 million in the pipeline, ready to start.
The building company had been in business since 1975, and its directors, Paul Murphy and Gavin Murphy, said they had made the soul destroying decision to put the company into external administration.
The appointed administrators, Jon…
Read the full article at: https://www.news.com.au/finance/business/builder-operating-in-two-australian-states-collapses-after-50-years-in-business/news-story/8c8c592748cca0eab6e0aa2667476809