This was published 2 years ago
Work on more than 700 Victoria homes has been halted after another construction company went into administration in another blow to the state’s struggling building industry.
Mahercorp announced late Friday it had entered voluntary administration and building works would cease for more than a month while administrators consider restructuring the business.
The announcement came just weeks after Australia’s 12th largest home builder, Porter Davis, left 1700 homes in Victoria and Queensland unfinished when it went into liquidation.
Mahercorp includes housing construction brands Urbanedge Homes and Eight Homes, as well as House and Land World, which helps buyers source land and build in regional Victoria.
In a media release, administrators from Cor Cordis said Mahercorp had determined this week that it would soon become insolvent “due to a significant supply chain issue” and decided to appoint voluntary administrators instead.
“We’ve commenced an urgent review…