Business
Fears for subcontractors in Pindan collapse – PerthNow
WA’s construction sector fears yesterday’s collapse of building giant Pindan could set off a wave of subcontractor foreclosures and receiverships.
WAs construction sector fears yesterdays collapse of building giant Pindan could set off a wave of subcontractor foreclosures and receiverships.
Pindan was placed in the hands of administrators from EY last night, with creditors reportedly owed up to $100 million.
It has left hundreds of subcontractors facing hefty losses and threatens nearly 300 jobs at the company.
CFMEU State secretary Mick Buchan said the companys failure wasnt just foreseeable, it was completely foreseen.
Mr Buchan believes…
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