More building company collapses appear inevitable as conditions deteriorate
Home building activity continues to decline, with little end in sight to the challenging landscape facing builders that has already brought thousands of businesses to their knees in the past two years.
The first quarter of 2023 saw the lowest number of building approvals since 2012. (Image source: Shutterstock.com)
Persistently challenging conditions within the building and construction sector suggest that even more building company collapses are inevitable.
The collapse this week of Tasmanian company Multi-Res Builders, which left many homeowners, creditors and contractors stranded and out of pocket, has only reinforced the sense of contagion gripping the building industry.
New insolvency figures show 2,500 home builders have collapsed in the past two ye…
