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Major home builder Porter Davis collapses impacting 1700 projects, with Lloyd Group also failing

One of Australia’s biggest home builders has failed leaving 1700 projects at risk, while another major construction firm has also gone under.

Australia’s thirteenth largest home builder Porter Davis Homes has collapsed suddenly placing 1700 projects in jeopardy across Victoria and Queensland, while another major construction firm has also gone under. Porter Davis Homes, which employs 470 staff members, appointed liquidators on Friday after failing to find someone to save the firm.

Said Jahani, Matt Byrnes and Cameron Crichton of Grant Thornton Australia were appointed liquidators of 14 companies and revealed work would cease immediately on all projects being conducted by the group of companies in Victoria and Queensland.

Porter Davis Homes (PDH) had over 1500 current homes in progress in Victoria and a further 200 homes in Queensland.

Just hours later another major player in the construction industry, Lloyd Group, also collapsed with 59 projects and 200 staff impacted. Lloyd's Group, which specialises in building schools and other government infrastructure, had six companies placed into voluntary administration with Deloitte working urgently to try and rescue the firm and find a buyer. Melbourne’s Bayside City Council revealed a number of projects were impacted by Lloyd’s Group’s demise.

“Council is working with Deloitte to clarify the next steps for our projects under construction which are the Dendy Street Beach Pavilion and Tulip Street Basketball Stadium expansion,” the council said.

The construction firm had projects in both Victoria and NSW, including the Willowdale Sports Pavilion in property giant Stockland’s Willowdale community near Leppington and a major sports facility in Schofields in Sydney.

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