Home builder Senator Bob Day tenders his resignation effective immediately

Bob Day, the Family First senator, has tendered his resignation effective immediately.

Day tendered his resignation to Senate President Stephen Parry this morning after his home building company went into liquidation.

“It has been an honour and a privilege to serve as a Senator for South Australia and I am sorry it has ended this way,” he said.

“I will now devote my time and energy to assisting those who have been affected by the company’s closure.”

In a statement, he said that potential investors would not be financing his Home Australia company.

"While a number of offers for various parts of the Home Australia business have been received, the major investor who has been examining the group's portfolio of assets over the past fortnight, has decided not to proceed," he said.

"Accordingly, I have today tendered my resignation to the president of the Senate effective immediately. It has been an honour and a privilege to serve as a senator for South Australia and I am sorry it has ended this way."

Day's company, Home Australia, was put into liquidation owing about $38 million to creditors. It also left around 200 homes unfurnished.

He said will now work to assist those affected by the closure of the company.

Day's former chief of staff Rikki Lambert has confirmed he will put his hand up for the vacant position.