Western Sydney construction company Zadro Constructions entered voluntary administration last month, and is unlikely to resume trading in the future.
All seven staff members were made redundant as the Penrith company joined a growing number of the industry’s businesses going bust.
Grant Thornton administrators John McInerney and Cameron Crichton were appointed on September 15, and operations ceased as they discussed current projects with clients.
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“The administrators held discussions with key customers regarding options to restructure the company’s affairs and complete projects underway,” a Grant Thornton spokesperson told 7NEWS.com.au.
“While discussions regarding the future of the projects are continuing, it appears unlikely that the business will recommence trading and all staff (seven) have been formally terminated.”
A meeting with creditors is set to take place later this month to determine the company’s future.
“A detailed report to creditors outlining, among other things, the causes of the…