THREE MORE BUILDING COMPANIES COLLAPSE IN VICTORIA
Three Victorian building companies, Wulfrun Construction, Langford Jones Homes and Western Port Construction collapses are the latest casualties of the construction industry crisis.
Wulfrun Construction went into voluntary liquidation with insolvency firm BDO Australia appointed as administrators. Work stopped around April this year. An update will be available to creditors in the first report from the liquidators on 8 June 2022.
Another Victorian company called Westernpoint Construction Pty Ltd also went into liquidation on Wednesday with Pitcher Partners appointed as liquidators.
Australia’s construction industry has been plagued by a spate of collapses this year including:
- Statement Builders Pty Ltd, based in the Sydney CBD
- Affordable Modular Homes Pty Ltd on the Central Coast of NSW
- Pivotal Homes in Queensland
- Fire Services Australia (FSA) which contracted to the construction industry
- Waterford Homes in Geelong
- Solido Builders in Queensland
Rising costs, periodic lockdowns and disrupted supply chains have created a situation of low or no profits for builders.
It is believed there are between 10,000 and 12,000 residential building companies in Australia involved in residential home projects.