Embattled western Sydney housing developer Bathla has been placed into administration, following months of financial crisis.
Documents filed with the corporate regulator on Thursday morning reveal Teneo has been appointed as administrator of the company, along with its hundreds of related entities including Universal Property Group and Raj and Jai Constructions.
In an Instagram post on the company’s page, founder and director Bhart Bushan described the voluntary administration as the “orderly restructure of business”.
“Our first thoughts are with our employees and…