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How will the Pivotal collapse impact customers?
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Kinda glad now I lost my painting business due to covid and am now completing an apprenticeship as a diesel mechanic. Construction sector turned to shit real quick. Also the 'no warning signs' is a common occurence. No heads up to the boots on the ground employees. Heard the same story with Condev when I was on holiday on the gold coast in march from a scaffolder. They rocked up to building sites with locks on the gates and they had to get their scaffolding out and no contractors were given any kind of heads up before they went under.
That’s a bloody big stein
Ok ok ok we get the message , there are some real problems in the housing sector. We promise we won't say you didn't warn us Florian 😊
How many cups of coffee do you drink a day?
I'm a retired builder I built myself a new home in brisbane 2013 , it was my last job , the floor joists were around the $12 to $14 per mtr. Now I see they are over $ 50 per mtr, I would like to know who is getting the extra money. Irrespective of the cause of the price rise, whether it be Shortages or the war in Russia, someone is pocketing a fortune . The money is flowing into someone's pocket.
Construction is screwed. Metricon must be in a big hole to need a bailout don’t think that bailout money will last them long. I think they are kaput.
If they did not ask for Administration before Liquidation, then they were trading while insolvent. What's the bet that "Preferential Payment" to associated entities were made in the last 6 months?
Bring back a 4×2 around the ear, was all you needed.
Did the wolf finally appear?
Qld government will cover the loss.
It’s the tax department asking for there money now that’s causing the problem !
Yep Ive Worked for a Plumber Doing Huge Contracts , It can Happen in a Instant One Minute you thinkyou have work for months and plan accordigly
Next Minute they call ya Into the Lunch room and Its All Over
The biggest threat to builders is their money addicted wives who can't stop spending the bloody overdraft when times get tough. The same goes with family businesses with too many family members on the payroll.
As the saying goes…government has never met a problem they couldn’t make worse 🤷♂️
Losing your line of credit from your bank finishes you off as a struggling builder. Once you are in the rumor mill the risk department takes over, Cash flow conditions are set and you are in a doom loop. Been through it twice.
You don't think it has something to do with multiple "once in a century/500 year" weather events like floods and bushfires taking labour from new builds and into repairs?
Is there a " force de majeure " clause?
Better outcomes will be acheived if contracts can be renegotiate.
A fixed selling price is a ridiculous business model given costs are not fixed.
Imagine the number of houses we could have built before pandemic and war. Now lots of kids who normally should live in homes will sleep in containers, pipes etc. It's the fault of the governments. Policies made only for rich to get richer. Policies made to get greedy investors compete with poor homeless for a shelter.
The ATO is calling in debts.A big factor over the next year for Business closures.I have mixed feelings as we are fully up to date with our Business Tax.Gone without to do this.
The liberal party has done a great job of stopping the labour doing anything because everything is going to crash!
Little racist there;)
I am so lucky I finished my build in 2020… literally by the skin of my teeth… would have cost me an extra arm and leg otherwise
I'm owner building at the moment. I paid 20% more for materials an labour. So I took long service leave….