From last year, my phone has kept popping the news about the collapses of some construction companies around Australia, with titles often mentioning ‘again’.
It repeated too many times, that I went to put them together, to try to have a better understanding of the happenings.
• Privium
• Probuild
• Condev
• Caydon Group
• Next
• Oracle Platinum Homes
• Home Innovation Builders
• Delco Building Group
• EQ Constructions
• Hamlen Homes
• CDC Plumbing and Drainage
• Dyldam Property Developers
- Tallahon No. 1
- James 88
• Longriver
Then I came across the article below from AFR, which is already a good summary.
It disclosed some shocking figures.
Quote:
"The conditions are worsening across the economy – insolvency numbers in the final quarter of last year rose above pre-pandemic levels for the first time. In construction alone, 471 companies entered into administration, a 42 per cent increase over the same three-month period of 2021, ASIC figures show."
Construction is one of the biggest industries in Australia. Many companies are living in and supporting the functioning of the ecosystem.
It’s bad to see these many breakdowns.
Quite a few of the above listed, were big players in the market.
If they could have foreseen the situation as a possible ending 2 years back, or even earlier,
What could they have done differently?
And for the companies that are currently running, what lessons can be learned?
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