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 appointed as voluntary administrators, with Keith Crawford and Matthew Caddy of McGrath Nicol to oversee the ongoing operation of the company as receivers and managers.
A statement from the company said under a proposal to be put to BPG’s creditors, it was intended the company would continue to trade during and beyond the administration and receivership period.
“This will…
