Elderton Homes announced it had appointed Liam Bailey and Chris Palmer of O’Brien Palmer as administrators today, citing the impact of several different events.
“This has been a difficult decision and a result of several factors, not limited to but including bushfires, floods, a global health pandemic and economic conditions,” Elderton Homes said in a statement.
“The impact of these events continue today.
“Furthermore, the construction industry has also been subject to record levels of rainfall, substantial price increases on building materials, supply chain challenges and labour shortages.”
The business started as a display home in the Hills District in 2009 and has since been involved in building “thousands of homes” in Sydney, the Central Coast and Illawarra.
Elderton Homes’ website states it has over 50 team members.
It also deals with other subcontractors and suppliers.
Companies have battled the rising cost of materials and severe labour shortages.
Many projects negotiated before the pandemic are now no longer viable.
The engineering group has been involved in numerous large-scale infrastructure projects around the country, including hydropower, energy,…