Another business in the troubled Australian construction
industry has collapsed and 25 workers were fired when Mornington Park Homes, a Tasmanian builder of mobile
homes, was placed in administration (bankruptcy) after more than three decades in business. ***no website found
Rob Kirman and Matthew Caddy of McGrathNicol (receivership administers)
were appointed and took control of company assets and affairs. Following an assessment
of its financial situation, it was determined Mornington Park Homes could no
longer continue trading, Kirman said in a statement.
They are in the process of seeking a buyer for the assets of Mornington Park Homes and will be placing a public announcement
calling for expressions of interest in the coming days,” Kirman said in
the statement.
Over the past 32 years the business has produced nearly
32,000 mobile homes in
Mornington Park Homes is just one of a long list of construction companies to
go under recently, with Australian Securities and Investment Commission figures
indicated a full 20% of the reported 10,632 company collapses last year
were construction companies.
In November last year, Trade Fusion, a
portable buildings, also collapsed. ***no website found
 |
| Trade Fusion’s factory |
Australian industry is dominated by small businesses, with 90% of
companies employing fewer than 20 people.
