This article is from the Australian Property Journal archive
ADELAIDE-builder Wake Construction is the latest company to collapse, leaving more than 100 people out of a job.
Three businesses owned by the 1980-founded Wake Construction, including Wake Concepts, Wake Carpentry and Wake Construction Group Pty Ltd have folded.
Anthony Phillips from insolvency firm Heard Phillips Lieberenz has been appointed to lead the liquidation of the businesses.
“The liquidator’s most urgent task is to help employees get paid, and at first instance that will be by facilitating claims in the government’s Fair Entitlements Guarantee Scheme and the Building Industry Redundancy Scheme,” said Phillips.
136 workers at the company are now without work, including 100 employed by Wake Concepts who were given notice of their termination on Wednesday and another 36 at Wake Carpentry and Wake Construction Group Pty Ltd.
“In the longer term, the focus will be on realising as much as can be from the company’s projects and investigating the cause of the company’s failure,” added Phillips.
Wake Construction was working on the $1 billion build of the Walker Corporation’s 29-storey One Festival Tower.
With Wake Concepts having worked on the Oval Hotel at Adelaide Oval, Emmaus Catholic School, Cardijn College and the St Catherine’s Retirement Community at Berry.
And Wake Carpentry working on aged care facilities, the Oval Hotel at Adelaide Oval, Bremerton Winery and Ashford Hospital.
Wake Construction is the fourth building company in South Australia to go into administration in 2023.
Qattro Built was the latest, folding just last week and leaving more than 200 residential homes unfinished.
While the South Australian government announced in August it would fund the delivery of internal roadworks at O’Halloran Hill unfinished by builder Felmeri Home.
With the Victorian government announcing a $15 million bailout package in April for impacted customers of major builder Porter Davis, which collapsed with 1,500 homes under construction in Victoria and 200 in Queensland.
