Grocon has called in administrators over the groups construction companies, citing its loss from Infrastructure NSWs handling of the Sydney Central Barangaroo project.
In a Friday announcement, Grocon chief executive Daniel Grollo said administrators had been contacted over the groups legacy construction companies founded by his grandfather more than 70 years ago.
Grollo would not confirm which entities were being placed into administration but told The Urban Developer that 52 entities, largely the legacy construction companies throughout the organisation, would be going into administration over the weekend.
Grocons The Ribbon development in Sydney and the Northumberland developmenta $111 million 12-storey office development in Melbour…
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