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Jada Group Collapses – Owing $2.4 Million

#constructionapocalypse #JadaGroup #heisesays
Another builder has collapsed owing $2.4 million.

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  1. These setbacks should be compensated. These guys will have issues going further in life. I'm worried about them, their relationship, and poor kids, they also see their parents hell of a time, frustration, scuffles at a time they are supposed to enjoy the process of dream home construction. Sad our system is not protected families going through these contracts and suffering opportunities and losses. Please Step in and help at least those who are stuck due to rain, Covid, pay rise, war etc etc.

  2. I was ripped off around the year 2000 for $3000 while working as a subbie for a contractor. At the time that money was earmarked to be a deposit on a flat. Over the years I got to work for a range of people in the ACT. Upon telling this story to one of my clients, a guy that was high up in the military, he said leave it to me. Not long after this the guy was bankrupt. I am related to a VC and I generally get along well with the officers living here.

  3. HONESTLY it's very sad but WTF is wrong with people?
    I hate the building industry, but it's COMMON SENSE where if you're losing out on ANY deal in life. You cut your loses or bite down and be prepared to drag through it for a better end result.

    Clearly this family needs to sell the land cut their losses and try again down the road. That's life, it sucks sometimes

    But if you're breathing, have food and shelter over your head life is not that bad. Sure they have to rent in whoop whoop or something but that's part of understanding the loss and cutting the drama put to move forward. 🙈

    I'd hate to see this family in the EU, Shri Lanka or Africa or something where real issues are ongoing… We are an extremely lucky nation.

    We have a shit corrupt gov. But compared to the rest of the world we have a decent living quality of life across the board of metrics.

    I hope they can use common sense and cut their losses and plan for a future date. It might even be a benefit on the long run, it's amazing how things change on a dime.

  4. I enjoy your stoic attitude towards these issues and anyone proposing further government intervention as our saving grace needs to automatically be dismissed as an escaped patient from a looney asylum.

  5. We can throw trillions at property. But unless we start manufacturing some goods in Australia itself we are going to have these issues always closures,bankruptcies, etc.

    We already are seeing 3 things happening and it is going to just escalate
    DE GLOBALISATION.
    DE DOLLARISATION
    MULTIPOLAR WORLD

    Plenty more to go broke.

    Articles of people complaining about houses , expensive, etc and earning 6 figures salary are talking UTTER garbage, nonsense BS

  6. I'm sick of hearing sob stories like this – Here is a tip – live within your means!!! as we have all been going through Covid, Flu, Weather and now pay increases…

  7. The system is totally corrupt and not regulated , just have a look at the highrise buildings around Australia , even the cement which should last for around 80 years does not last much longer than 20 years and I know because I worked in the industry , the Corruption is all through the industry and government !!.

  8. Yeah need far more regulations. People should do an 6 month certification course on how to buy a house on top of a 3 month marriage course with 6 month live in counselor vetting your every move to pass probation test. All house purchasers should do a lite builders course on all the aspects of housing construction so they are familiar and gain an appreciation with the industry and partake in 4 week work experience exercise. They should also pass a stringent justification of needing a house test as well prior to any certifications…..Housing occupation certification licenses should expire every year and require follow up 2 hour proctored exam, with a CPI indexed annual fee based on some arbitrary fee devised by government picking four digits out of a large duffle bag with 2 angry cats in it.

  9. It's not really surprising that a lot of these building companies are going broke aside from supply issues and rising material costs there's a real skilled labour shortage with bigger unionised projects fleecing a lot of the available tradesmen and why wouldn't you work on a union site if you can . Paid stop work days , bus and Bert and wages I find frankly over the top . I have a Phillipino friend that turns the stop/go sign on a union site earning $530/day and if he works Saturday around $850 , he's got the biggest smile you've ever seen he was getting $35/day in the Phillipines. It's not always the construction companies fault

  10. ive sent a stand over person to get my money back i was owed 6800$ for a job i did 9 years ago he wouldnt pay a bikie that worked under me offered to help on the condition i help make custom made gates and posts for security outside there club house was a 2 day job was well worth it they even payed me for it aswell. :O

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