When a Gold Coast construction company was forced to close, hundreds of subcontractors were affected, being put out of pocket more than $100,000.
Work had to stop on a major Gold Coast residential tower project and buyers who were hoping to inhabit their properties by October are now having to fork out an additional $120 a day in accommodation. They aren’t even sure if their apartments, costing around $580,000 will be completed at all.
These would-be residents and subcontractors are facing difficult times after the builder had its license suspended recently. Now more than 300 subcontractors are facing losses. They have called for the state government to speed up implementing laws due in 2019 to protect tradies from building company collapses.