In brief
- Thousands of Australian construction companies collapsed in the last financial year.
- They made up a quarter of all insolvencies nationally, despite ongoing demand for new homes.
Across Australia, thousands of people are waiting to find out if their homes will be built, after several separate construction company collapses.
By far the biggest of those recent collapses has been the Bathla Group, a Sydney developer that’s been one of Australia’s largest affordable home builders.
Owing about $3.4 billion to private lenders, Bathla’s voluntary administration has thrown the construction of more than 2,000 apartments into limbo, while jeopardising a further pipeline of 14,000 homes.
More builders going bust since COVID
Figures released…