An award-winning Victorian builder has become the latest firm to collapse as the attrition in the sector of last year rolls into 2023.
Delco Building Group was placed into liquidation on Wednesday.
The company reportedly owes $780,000 to 50 creditors and had five uncompleted homes on the go when it collapsed.
Hamish MacKinnon from Dye & Co has been appointed as liquidator.
The company was first registered in 2017. It is believed all of its employees left the firm last year due to ‘difficult trading circumstances’.
It is understood Delco owes the ATO $180,000 and the remainder to trade suppliers and contractors, including a $70,000 debt owed to a hardware supplier.
The firm won a Master Builders Victoria Excellence in Housing Awards for its transformation of a Victorian-era 1887 double-fronted cottage.
According to its website, Delco Building Group “is a family-owned construction company that builds primarily in Melbourne’s south-eastern suburbs”. It was established in 2002 by Marc Milner.
After a horror year last year, there’s been precious little good news for builders with several firms going under including LDC, a luxury housebuilder based in south-east Queensland which last month collapsed owing $7 million to dozens of supplier and trade creditors.
