‘Soul-destroying’: Illawarra jobs lost as builder enters administration
The collapse of a prominent Canberra building firm has also resulted in a series of employees in the Illawarra losing their jobs.
Project Coordination has entered voluntary administration after nearly 50 years of operation in the ACT and NSW.
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By continuing you agree to our Terms and Privacy Policy.Project Coordination met with employees in Canberra and Wollongong on Tuesday to inform them of the company’s situation.
“They were emotional meetings and conversations,” directors Paul Murphy and Gavin Murphy said in a statement.
“A quarter of our staff have been with us for 15 years or more, with many over 20 years.
“We recognise this single decision affects many, including our subcontractors and suppliers, many of whom have been faithfully working alongside us for decades.”
RSM Australia partner Jonathon Colbran said the majority of the company’s 67 staff — 38 of whom are based in the ACT and 29 in NSW had been made redundant and would receive the majority of their employee entitlements immediately.
The majority of the NSW staff are from the Illawarra region.
In their statement, the company’s directors described the decision as “soul-destroying”.
Founded in Canberra in 1975, Project Coordination specialises in construction and refurbishment jobs in residential and commercial sectors.
The company expanded in 2000 with the opening of a second office in Wollongong.
The firm’s projects have included the $10.5 million redevelopment of two well-known fixtures of North Wollongong Beach.
This included the refurbishment of the North Wollongong Surf Life Saving Club building and seawall construction works.
They were awarded the tender for the project in 2021. The seawall has been finished, as has the refurbishment.
RSM Australia was appointed as the administrators of the company on March 19.
Mr Colbran said the company had 14 active building projects, including 10 in the ACT and four in NSW.
“All work on these sites ceased immediately prior to the appointment of the administrators,” he said.
It is estimated more than 200 creditors are owed more than $20 million.
The administrators said the group had a pipeline of future work totalling about $90 million. Despite this, they advised administrators they did not have enough funds to continue operating.
A first meeting of creditors had been scheduled for April 2.
This story was originally published on view.com.au.
