THERE will be deep concerns in many communities after news yesterday that Darling Downs civil construction company Ostwald Bros has had to call in administrators PriceWaterhouseCoopers.
The decision to go into voluntary administration has put nearly 500 jobs at risk.
Over the past 27 years the family-owned and operated company has been a major employer and contributor to regional Queensland.
It is understood the decision was mainly based on the company’s ongoing contractual disputes with Nexus Infrastructure and works on the Toowoomba Second Range Crossing, as well as Seymour Whyte and upgrades to the Pacific Hwy in northern NSW.
PriceWaterhouseCoopers partners Derrick Vickers and Sam Marsden said the process mea…
Read the full article at: https://www.thechronicle.com.au/news/shock-ripples-through-community-wake-ostwald-bros/3217450/
