Business behind Cavalier Homes Geelong sent into liquidation
A home builder from regional Victoria has been sent into liquidation, just the latest casualty in the bubble which smashed the industry.
Station 293, the business behind Cavalier Homes Geelong and Nathan Downing Builders, collapsed on Monday.
Documents lodged with the Australian Securities and Investments Commission show Clifford Sanderson of Sydney insolvency firm Dissolve Pty Ltd has been given control of the seven-year-old business. Mr Sanderson will need to sort through the wreckage.
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By continuing you agree to our Terms and Privacy Policy.Cavalier Homes’ national website says the company is a franchise network, with about 20 offices across the country.
“Cavalier Homes help smaller builders in their local communities gain market share and keep building local,” the website says.
“The business model is based on their own successes as builders and franchise owners and a desire to help the small independent builder compete against big corporates.”
The director, liquidator, and Cavalier’s head office did not respond to requests for comment.
But there have been reports Station 293 had at least 40 creditors and two unfinished homes.
A whopping 1851 construction companies have collapsed nationwide so far this financial year, according to fresh ASIC data released this week.
That’s more than double the number of insolvencies in the industry in 2022.
Among the highest-profile casualties in recent years were Probuild and Clough.
