Project Group Constructions, a Melbourne-based builder working on residential and commercial projects with a contract value of about $190 million, has gone into voluntary administration.
Burnley-based Project Group, a company with about 100 staff, went into administration on Friday with a preliminary estimate, excluding employee entitlements, of $22 million in debts – $7 million of that secured to banks and unsecured debts worth $15 million – said Matthew Jess of Worrells Solvency & Forensic Accountants, who was appointed co-administrator with colleague Ivan Glavas.
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