More builders fail, thousands of workers left unpaid
The collapse of two more major builders, St Hilliers and CMG Homes, has underscored the horrific start to 2024 for the construction industry.
The past week has been a terrible one for housing in Australia, with companies and major statistical indices all nosediving. (Image source: St Hilliers)
The chaos enveloping the construction industry continues to unfold, with more major builders collapsing in recent days and hundreds of reports flooding in about unpaid wages within the sector.
Among the latest business casualties are St Hilliers, which has folded and halted work on 21 multimillion-dollar development projects around Australia, and Brisbane’s construction company CMG Homes that lapsed with $300,000 in unpaid debts.
ASIC data reve…
