More than 200 people stood down at embattled housing developer Bathla
Sydney-based property developer Bathla Group has stood down over 200 employees as it struggles with $3.4 billion in debt. Administrators are currently prioritizing the completion of existing housing projects while suspending work on others to manage the company's insolvency.
Why it matters
The potential collapse of a major developer threatens to exacerbate Australia's housing supply crisis and leaves thousands of homebuyers with unfinished properties.
Bathla’s potential collapse could cause far-reaching consequences for the wider property market already well behind housing targets. Photograph: Jono Searle/AAP Bathla’s potential collapse could cause far-reaching consequences for the wider property market already well behind housing targets. Photograph: Jono Searle/AAP Australia news More than 200 people stood down at embattled housing developer Bathla amid $3.4bn debt Sydney-headquartered group suspends work on some of its 45 construction sites affecting 60% of workforce
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Prefer the Guardian on Google More than 200 workers at Sydney-headquartered Bathla Group have been stood down as administrators of the embattled property developer seek emergency funds to stave off a company-wide collapse.
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