Snowdon Developments liquidation: Hundreds of homes at risk

Snowdon Developments liquidation: Hundreds of homes at risk 2
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Another Australian building firm suddenly collapses with 52 staff sacked and 550 homes at risk of not being completed

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An Australian building company has collapsed owing $18million, with 52 staff fired and more than 550 homes at risk of not being completed.

A court ordered Victorian construction firm Snowden Developments to go into liquidation on Wednesday morning – and comes just weeks after the builder went into administration over concerns it couldn’t pay its debts.

It’s the latest construction company to have folded during the pandemic with many struggling to find staff and facing problems sourcing and paying for materials due to a worldwide shortage.

Matthew Mackey, the Executive Director at engineering giant Arcadis, said the government need to get more involved or face a total collapse of the residential construction industry.

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‘There has to be more collaboration at all levels to make sure it moves forward. We’re not going to be talking about builders going under but a complete lack of jobs,’ he told Daily Mail Australia.

 

More to come.

Snowdon Developments liquidation: Hundreds of homes at risk 3

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