Staff at embattled Perth building company Cooper & Oxley have been told their employer has a 50-50 chance of surviving after the company was yesterday placed in administration.
As the move was being announced, dozens of the companys employees gathered at its Jolimont headquarters to be briefed by representatives from insolvency firm Hall Chadwick, which is now in control of the business.
It is understood no attempt was made to sugar-coat the challenges the company is facing and staff were told they would be given another briefing next Tuesday once a clearer picture of the financial position had been established.
They told us it was 50-50 at the moment, one worker said as he left the meeting. Were crossing our fingers.
The staff are suspended…
Read the full article at: https://thewest.com.au/news/wa/embattled-perth-builders-staff-could-be-out-of-job-ng-b88738211z
