Liquidators are working to realise the assets of collapsed building company Queensland One Homes in the hope of recouping millions for creditors of the business, as insolvency experts say the east coast of Australia and the construction sector are areas to watch for company collapses.

Queensland-based home builder Queensland One Homes Pty Ltd entered liquidation on July 6, leaving 35 building sites unfinished at the time of liquidation, and the gold coast Bulletin reports the Queensland Business and Construction Commission has now suspended the building licence of Queensland One Homes.

The Commission has also confirmed to the newspaper it is investigating another related business, Empire Constructions Pty Ltd, for allegations of phoenix activity.

On the Queensland One Homes’s website, customers are offered building services for new homes, drawing on more than 30 years of industry experience and promoting an average 14-week build time.

Liquidator Michael Caspaney of Menzies Advisory tells SmartCompany he is now seeking to secure and realise the assets of the business, explaining this must be done before attempts are made to recoup the $3.5 million owed to 133 creditors, including employees of the business and…