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Another building company collapses amid slew of liquidations
A Tasmanian building company is the latest construction business to fall into liquidation amid soaring inflation adding to material costs and labour shortages.
Multi-Res Builders, a family-owned construction business based in Hobart, entered liquidation on May 14, according to Australian Securities and Investments Commission (ASIC) documents.
David Levi from Levi Consulting has been appointed as the liquidator.
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"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 and that David Levi be appointed liquidator," ASIC documents said.
9news.com.au has contacted Levi for comment.
It comes after a multitude of construction companies have struggled to stay afloat amid soaring costs as a result of demand and pressure for materials, labour shortages and skyrocketing inflation.
The struggles in the industry became evident when construction giant Porter Davis collapsed, which left around 1700 home-building projects in Victoria and Queensland in limbo.
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Another two Victorian construction companies have also entered administration, Interface Constructions Victoria and Mahercorp due to "unprecedented challenges".
Queensland developer Property Solutions Holdings also recently entered liquidation.
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