Building company collapses, vanishes

author
1 minute, 42 seconds Read

A Tasmanian building company has gone into liquidation, leaving multimillion-dollar projects in the lurch.

It is the latest in a seemingly never-ending series of building firms collapsing as the industry faces the rising cost of labour and construction materials.

A liquidator was appointed to Multi-Res Builders Pty Ltd on May 14, according to a notice published on the Australian Securities and Investments Commission.

“Notice is given that at a general meeting of the members of the company held on 14 May 2023, it was resolved that the company be wound up …,” the notice read.

Levi Consulting director David Levi has been appointed to undertake the liquidation process.

Multi-Res Builders leaves behind multimillion dollar building projects. Picture: Multi-Res Builders Pty LtdMulti-Res Builders leaves behind multimillion dollar building projects. Picture: Multi-Res Builders Pty LtdThe website for the home building company remains online but has been wiped of all content. Screengrab taken on Wednesday morning.The website for the home building company remains online but has been wiped of all content. Screengrab taken on Wednesday morning.

The company has since wiped clean its online presence, with its website void of any content, social media accounts deactivated and telephone set to hold music.

Sydney-based plumbing company Limcora Pty Ltd’s chief executive Evan Graham told The Mercury they are still owed $100,000 from jobs they completed for Multi-Res.

He estimated a number of townhouses being built by the firm at Glenorchy were worth up to $10m.

The company has wiped clean its social media and website. Picture: Multi-Res Builders Pty LtdThe company has wiped clean its social media and website. Picture: Multi-Res Builders Pty LtdA Sydney-based plumbing company has claimed they are owed $100,000. Picture: Multi-Res Builders Pty LtdA Sydney-based plumbing company has claimed they are owed $100,000. Picture: Multi-Res Builders Pty Ltd

The company’s Facebook profile and Instagram account were unable to be viewed while their LinkedIn remains online but has been wiped almost entirely clean.

Google reviews of the company show a slew of unhappy customers sharing their experiences over recent months.

Mr Graham estimated the company has been working on projects up to $10m. Picture: Multi-Res Builders Pty LtdMr Graham estimated the company has been working on projects up to $10m. Picture: Multi-Res Builders Pty LtdPhone calls to the office lead to hold music without ringing through. Picture: SuppliedPhone calls to the office lead to hold music without ringing through. Picture: Supplied

One person described the company as “absolutely shocking” before claiming they had knowledge of contractors who were owed money from the firm.

NCA NewsWire has contacted Multi-Res Builders for comment.

Similar Posts