A Queensland construction company has collapsed, plunging into jeopardy the fate of multiple state government-funded building projects worth hundreds of millions of dollars.
Last Thursday, the Queensland Supreme Court ordered Allroads Pty Ltd into liquidation.
Allroads specialised in civil construction and had taken on a number of major road and defence projects in Gold Coast, Townsville and the Gold Coast adding up to more than $200 million. It was headquartered in Larrapinta in outer Gold Coast.
The company had fallen into financial strife recently, going into administration earlier this month while at the same it was facing a winding up application from a pipe supplier over an unpaid debt.
Ultimately at the court hearing last week, the registrar deemed that Allroads should be shut down for good and appointed David Stimpson of insolvency firm SV Partners as liquidator.
A CreditorWatch report obtained by news.com.au shows that the civil engineering company had racked up a long list of payment defaults in the past several months.
“There have been worrying signs these guys were not in a good place for a long time with multiple subcontractors and suppliers walking off sites due to unpaid bills,” one person familiar with the…
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