Several companies connected to one of Australia’s largest construction groups have entered administration.
A total of ten companies tied to Kwikform, the Australian arm of South African company Waco International, went into voluntary administration on Monday and Tuesday.
The Sydney-based group traded as Waco Kwikform, Star Scaffolds and United Scaffolding Group.
Its main business was hiring, selling and manufacturing formwork, scaffolding and shoring in 23 locations across Australia and New Zealand, the Daily Telegraph reported.
It’s understood more than 650 staff were affected by the decision this week.
Waco Kwikform has been a long-term partner of F1 in Melbourne and provided scaffolding for the John Hunter Hospital in Newcastle.
It is unclear how much the companies owe.
They are overseen by Waco International CEO Stephen Goodburn – aged 62, CFO Dharishan Padiachy – aged 39, and Waco Australasia CEO Michael Els – aged 58.
Several companies tied to Kwikform have entered administration (pictured is John…