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Grocon doubles subsidiaries in administration to preserve cash for court battle with NSW government – NEWS.com.au
Grocon doubles subsidiaries in administration to preserve cash for court battle with NSW government
Collapsed construction giant Grocon has placed dozens more of its subsidiaries into administration, saying it needed to take the dramatic step to preserve cash for its bitter court battle with the NSW government.In late November, 39 Grocon companies were placed in the hands of KordaMentha and a further three were added the following month.
An additional 45 specific-purpose subsidiaries – many of which appear to have been dormant for some time – joined the list on Monday, leaving the administrators…
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