Major building company St Hilliers has called in voluntary administrators, as strain continues in the Australian construction industry.
A telephone statement from the group said Allan Walker of WLP Restructuring had been appointed to oversee investigations into the future of St Hilliers and six other entities.
“The administrator is now in control of each of the companies’ affairs and finances and is undertaking an urgent assessment of the group’s financial position,” the statement said.
“We will be in touch with all creditors and stakeholders in due course.”
The Sydney-based group, which claims to be one of the country’s largest integrated property and investment companies, reportedly told subcontractors on Saturday and Sunday ther…