‘It is a deeply troubling time.’
Jansen said he put all his personal assets into the company, but it was faced with a $7.5 million cost increase that couldn’t be absorbed.
About 200 customers have been left with incomplete homes, valued at $110 million, according to Qattro’s liquidator Duncan Powell.“The reality is that selling something under contract for $1.00 that costs $1.20 to produce can only go on for so long,” he said.“I know the closure of the business will have a significant impact on its many long-term employees, clients, contractors and various local sporting clubs and charities that Qattro has strongly supported over the last 15 years ...
Jensen said the builders watched the problems in the industry play out for three years, with no end in sight. “It is a deeply troubling time for the sector when a shortage of housing supply is in lock step with supply side degradation,” he said.
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