An independent building company that is part of a major national construction chain has collapsed.
An independent building company that is part of a major national construction chain has collapsed and all reference to it has been removed from their website.News.com.au can reveal that Victorian-based building company Station 293 Pty Ltd went into liquidation last Friday with money owed to “lots and lots of tradies”.
Cavalier Homes was established in 2001 and has 19 franchises all along the East Coast, spanning across four Australian states.Cliff Sanderson of insolvency firm Dissolve was appointed as the liquidator of Cavalier Homes Geelong and said so far more than 40 creditors have contacted his office.The company’s sole director, Nathan Downing, told Mr Sanderson that the building firm had only two active residential builds on its books at the time it went under.
In 2024 alone, news.com.au has reported on more than a dozen building companies which have gone under.Data figures revealed that up to the end of November last year, 21 Geelong construction businesses had gone belly up. In times of economic hardship and inflation, building companies are usually the first to feel the pinch as they run on such small margins.
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