Major Sydney builder folds owing up to $50 million
Sydney-based EQ Constructions has become the latest builder to collapse and join the ranks of the dozens that have folded in recent years.
The sun has set on another builder, with EQ Constructions in Sydney going into administration. (Image source: Shutterstock.com)
Millions of dollars in debt owed to hundreds of creditors, dozens of building industry jobs threatened, and a number of large projects now at risk.
In what is becoming an increasingly common scenario in Australia’s construction sector, a major apartment developer in New South Wales has lapsed into administration.
EQ Constructions, which employs around 40 staff and also trades under the name EQ Projects, has collapsed owing at least $40 million,…
