A constructing firm has collapsed, shedding 80 workers and leaving 130 tasks on pause.
Collectors voted to position Cubitt’s Granny Flats and House Extensions into liquidation on Friday.
The corporate, which had been working for 30 years in NSW and the ACT, went into voluntary administration earlier this yr and had money owed of $5.7 million.
It’s believed that $2.6 million of that’s owed to 77 tradies.
Collectors voted to liquidate Cubitt’s at a gathering final week as a result of powerful financial local weather.
Richard Stone and Brett Lord of insolvency agency RSM Australia have been appointed as liquidators.
‘The failure of 1 enterprise has a domino impact on so many individuals, from workers, to shoppers, suppliers and different stakeholders,’ Mr Stone instructed information.com.au.
‘As we speak, these impacts are being compounded by a fragile economic system and companies and households who’re doing it powerful.’
Extra to come back.
