Another Victorian building company has gone bust, weeks after the collapse of one of Australia’s largest home builders, Porter Davis, and construction firm Lloyd Group.
Award-winning builder Mahercorp announced it went into voluntary administration on April 21, affecting more than 700 homes, as the industry continues to struggle amid the cost of living crisis.
In a letter to clients on April 21, chief executive Steve Maher blamed “unprecedented challenges” but said the company, which oversees builders Urbanedge and Eight Homes, had not collapsed. “My intention is to work with the administrator on a plan that I hope allows us to restructure the business, creating a more sustainable footing and to complete your home,” Maher wrote….