UPDATE, 4pm: Insufficient funds have been cited as the reason for Watersun Homes entering into voluntary administration.
Ninety full time jobs will be lost as a result of the administration process.
All staff were informed today, according to a statement.
Administrators are expected to contact property owners who have contracted the residential homebuilder shortly.
Neil Mclean and Mathew Gollant of insolvency firm Rodgers Reidy have been appointed as joint and several administrators of Watersun Homes.
Watersun Homes has 300 projects throughout Victoria.
The company has ceased trading.
Administrators are seeking expressions of interest from parties for the sale of all or some of…
Read the full article at: http://www.thecourier.com.au/story/4499145/watersun-homes-enters-administration/
