Home Bussiness Major building company collapses

Major building company collapses

A prominent residential building company in Western Australia has gone bust.

On Monday, the Slatter Group WA Pty Ltd, trading as the Slatter Group, appointed liquidators to wind up the company.

Samuel John Freeman and Clare Anne Baily of big four accounting firm Ernst & Young (EY) are the joint liquidators of the operation.

The company held a general meeting where attendees voted for it to be put into voluntary liquidation.

The Slatter Group had been in business for 20 years.

It built both residential homes as well securing government contracts, mostly for the education sector.

Indeed, the company was reportedly engaged in several large government projects such as the Murdoch University Senate conference room, an early learning centre at Penrhos College and refurbishing the Aquinas College’s boarding house.

The website is still live and states: “At Slatter Residential, we believe that forging strong relationships with our clients is the first step towards bringing their dreams to reality.”

When news.com.au contacted them, their phone lines rang out.

An EY spokesperson told news.com.au that “The liquidators are urgently assessing the position of the company and will be writing to the company’s clients regarding existing building contracts and reporting to creditors in due course.

“The company has ceased trading upon the appointment.”

It comes as the entire building industry is in crisis because of supply chain disruptions, skilled labour shortages, skyrocketing costs of materials and logistics, locked-in price contracts and extreme weather events.

So far this year, around a dozen builders have collapsed.

Earlier this month, Interface Constructions Victoria, which specialised in childcare and education projects, appointed external administrators.

Australia’s 13th largest home builder Porter Davis as well as Lloyd Group, shut their doors within 24 hours of each other.

PBS Building, a multimillion-dollar firm which did a mix of commercial and residential projects across Queensland, NSW and the ACT, officially collapsed, leaving 180 staff and 80 projects up in the air.

Earlier this year, three prominent building companies collapsed a day apart from each other, with NSW apartment developer EQ Constructions going bust owing up to $50 million, then Perth building company called Hamlen Homes going into administration with $1.4 million reportedly owed to creditors and the next day Melbourne-based residential builder Hallbury Homes going into voluntary administration.

alex.turner-cohen@news.com.au

Read related topics:Perth