COMMENT: Just about anybody in Perths building industry and plenty of outside observers would have seen the failure late last month of Diploma Group coming.
More inevitable than spectacular, the $50 million collapse of the Di Latte family- controlled company and two construction arms has nevertheless had a damaging impact on hundreds of small business people and former employees.
Now insolvency specialists are trying to pick up the pieces, questions are being asked about why regulators did not step in sooner to prevent further pain for subcontractors, suppliers and others.
The signs were unmistakeable. The Australia Securities Exchange-listed company had not filed financial results since last February. Progress at construction projects had …
Read the full article at: https://thewest.com.au/business/commercial-property/diplomas-collapse-leaves-questions-for-watchdogs-ng-b88349025z
