Thursday deadline before liquidation, administrators warn
Sydney-based construction firm Bathla Group faces imminent liquidation if administrators cannot secure $20 million by Thursday. The potential collapse threatens to disrupt the housing sector and leave numerous subcontractors and suppliers unpaid.
Why it matters
The failure of a major developer exacerbates the housing supply crisis and creates a ripple effect of financial instability for small businesses in the construction industry.
— 6:08pm , first published 1:36pm
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Share A A A The collapse of one of Sydney’s largest building companies threatens to engulf its suppliers and contractors, sending construction costs soaring as the state struggles to meet its housing targets.
Teneo, the administrator of Bathla Group, has until Thursday to find $20 million to repay eight weeks of staff wages and fund near-complete projects. If it fails, Bathla will be shut down.
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