A building company has collapsed into liquidation with 50 homeowners across Melbourne and regional Victoria impacted.
News.com.au can reveal that River Dale Building Group Pty Ltd which traded under the name Chatham Homes went into voluntary liquidation less than 24 hours ago.
Andrew Schwarz of insolvency firm AS Advisory was appointed as the liquidator around noon on Monday.
All 16 employees lost their jobs on the spot at a company-wide meeting and Chatham Homes has now officially ceased to trade.
Chathom owes around $2 million to around 200 creditors, most of them tradies, according to preliminary findings.
The business was operating but the business had basically run out of cash, Mr Schwarz told news.com.au.
Its a victim of the indust…
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