Melbourne’s Avra Group is the latest Australian construction business to go under as the building industry is hit by high costs
A boutique Melbourne construction business has plunged into administration – the latest building company in tough economic conditions.
Avro Group (Aust) Pty Ltd wound up on July 14 and was formally placed in liquidation, Australian Securities and Investments Commission (ASIC) records show.
The company was based in inner-city Footscray and its staff prided themselves on having ‘a team of experts working’ around them.
The company promoted itself as having a ‘professional approach’ that ‘sets it apart from other firms’ and managing clients’ projects from start to finish.
Australia’s building industry has been hit by the inflated cost of building materials and recent interest rate hikes.
Recent firms to go under this year include Millbrook Homes, NSW; Bentley Homes, Victoria and Modoc Residential, located in Perth, WA.
Porter Davis – the nation’s 12th largest manufacturer – collapsed in March.
Several property owners contracted with Porter Davis have recently resumed construction.
‘Finally, the long wait is over!’ A customer cheered at a community discussion group over the weekend – as another builder started work on their site.