Construction company Main Facilities has gone bust after over a decade reshaping the state. The state government contractor which worked on commercial projects across the education, justice, and health sectors entered administration last Wednesday. Vanguard Insolvency Australia liquidator Mohammad Najjar was appointed as the administrator to oversee the future of the company, according to ASIC. Najjar told 7NEWS.com.au that “up to 15” staff members were terminated before his appointment.
It is just a fraction of what the company owes other creditors, with that figure “potentially upwards of $7m to $8m,” Najjar said. Najjar said that Main Facilities director George Bancs informed him that a “lack of new projects to work on and the associated revenue” is behind the move to appoint administrators. It is understood Main Facilities was recently awarded a contract for a NSW government project. 7NEWS.com.au is awaiting comment from the NSW deputy premier’s office.
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Source: 7NewsSydney - 🏆 16. / 63 Read more »