West Australian building company Modco Residential has entered voluntary administration, blaming rising costs and the media its downfall.
The WA building regulator, Building and Energy, warned the public to be cautious when dealing with the company because it had significant reason to believe it was under financial stress, with several court cases launched against it.
It said it received reports that subcontractors had not been paid and clients were being asked for payments in advance of work being completed.
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Modco launched in 2020 with a glamorous party and a promise to offer clients cost-effective homes with faster build times.
In a statement posted to its social media pages, comp…
Read the full article at: https://7news.com.au/news/wa/west-australian-building-company-modco-residential-enters-voluntary-administration-c-11371604