Building companies are dropping like flies and two more have collapsed just days apart, leaving homeowners and tradesmen reeling.
On June 26, NSW-based luxury builder Millbrook Homes collapsed into liquidation owing more than $4 million to roughly 80 creditors.
Then just four days later, on June 30, Victorian residential construction firm Bentley Homes also appointed liquidators as its debts piled up to $1.8 million.
Millbrook Homes specialised in luxury custom builds and the average home it built was worth substantially north of a million dollars according to the appointed liquidator, John Keenan of insolvency firm BRI Ferrier.
As a result, he explained that some houses experiencing defects are making substantial claims against the now …
Read the full article at: https://www.news.com.au/finance/business/other-industries/nsw-and-victorian-building-companies-join-growing-pile-of-collapsed-construction-firms/news-story/54b6bc6f8b289e0738afe975119aaf33