The Sydney construction company is unlikely to resume trading.
construction company Zadro Constructions entered voluntary administration last month, and is unlikely to resume trading in the future.
Grant Thornton administrators John McInerney and Cameron Crichton were appointed on September 15, and operations ceased as they discussed current projects with clients.“The administrators held discussions with key customers regarding options to restructure the company’s affairs and complete projects underway,” a Grant Thornton spokesperson told 7NEWS.com.au.
“A detailed report to creditors outlining, among other things, the causes of the company’s failure will be provided to creditors in the coming weeks when the administrators have completed their investigations.” Zadro Constructions has entered voluntary administration, and administrators said it was unlikely trading would recommence.Its downfall follows a worrying industry trend, echoing the fate of a number of construction companies to have entered administration or liquidation this year.show that 2213 building companies had collapsed during the 2022-23 financial year — a 72 per cent increase on the previous 12-month period.
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