The Australian construction industry faces another setback as Bensons Property Group enters voluntary administration. The Melbourne-based developer, with a portfolio of high-profile projects, cited rising construction costs and increased interest rates as primary challenges. Figure 1: A photo of the Liberty 1 building in Footscray shows diggers at the Liberty 2 site. With Bensons Property…
By HARRISON CHRISTIAN Published: 11:41 AEDT, 28 December 2024 | Updated: 12:39 AEDT, 28 December 2024 The construction of 1,300 new homes worth a staggering 1.5billion now hangs in the balance after a major Aussie home builder entered administration. Bensons Property Group announced on Friday it had appointed Craig Shepard and Sebastian Ham of Korda…
Building giant in voluntary administration MSN Read the original article here
Big Lots saves 200-400 stores in deal with Roses, Maxway parent company Axios Read the original article here
Major Australian developer Bensons Property Group has entered voluntary administration, but says it will not impact any of the company’s current projects. The company has cited tough conditions in the construction sector has seen them go bust, including higher interest rates and increasing construction costs. Craig Shepard and Sebastian Ham of Korda Mentha have been…
Homes under construction hang in balance as Bensons Property Group enters administration MSN Read the original article here
A major Australian property group has gone into voluntary administration, in another blow to the construction industry. Bensons Property Group announced on Friday that its team made the “difficult decision” to appoint Craig Shepard and Sebastian Ham of Korda Mentha as voluntary administrators of the business. BPG was founded in 1994 by Elias Jreissati and…
According to now-deleted content on Bensons’ website, one of its core values is integrity, stating it will “deliver on our promises, on the homes that we create, which are dependable and reliable, and built on time”. Bensons, founded in 1994 by self-made developer Elias Jreissati, focused on building large and luxurious apartments blocks in Victoria,…
New Delhi: Stressed companies ending up with liquidation orders under the insolvency law, including large ones, have had assets worth less than 5% of the amount they owe to their lenders, showed the bankruptcy regulator‘s data.This brings to the fore the question of due diligence by banks while lending, on top of value erosion caused…
Rites announces voluntary liquidation of Indian Railway Station Development Corporation Business Standard Read the original article here