Project Group Constructions calls in the administrators

Project Group Constructions calls in the administrators
Project Group Constructions calls in the administrators

Project Group Constructions, a builder working on residential and commercial projects across Melbourne with contracts valued at about $190 million, has gone into voluntary administration.

The Burnley-based Project Group is a company with about 100 staff.

The projects listed on Project Group's now disappeared website include the 16-unit Carlton Apartments project by MQ Property Group; Codstream's $30 million 48-unit Merri Green residential project in Melbourne's inner northern suburb of Northcote; the 19-unit 70 Wattletree Road project in Armadale by developers Buxton Group and Roulston; Outline Projects' 29-unit Little Oxford development in Collingwood, and the QMAX Development in Prahran.

It went into administration last 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 – Matthew Jess of Worrells Solvency & Forensic Accountants told The Australian Financial Review.

 

Tags: 
Melbourne Administration

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