The chief executive of the builder’s parent company told customers of his ‘heavy heart’ as it was announced the home building company will enter a five-week administration, affecting 730 builds.
“From the outset, I want to emphasise that Mahercorp has not collapsed and is not in liquidation. My intention is to work with the administrator on a plan that I hope allows us to restructure the business, creating a more sustainable footing and to complete your home,” Mr Maher said.
Those pressures were clear last week with an official report showing building industry failures in the first nine months of financial 2023 atDarren Love, director of building inspection company Darbecca, which conducts up to 12,000 annual building inspections, said it was “inevitable” other building companies would go out of business given many were locked into“There’s currently a perfect storm,” Mr Love said on Friday.
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