PHOTO: St Hilliers construction company
One of the largest construction firms in Australia has halted operations and engaged administrators. St Hilliers, a 34-year-old company specializing in residential, commercial, and infrastructure construction, has instructed sub-contractors across 21 work sites to cease work, with seven entities within the group now under administration.
Voluntary administrators, Glenn Livingstone and Alan Walker of WLP Restructuring, were appointed on Sunday to oversee St Hilliers Contracting, the company’s construction division. Currently, 22 staff members have been laid off, while the employment status of the remaining 80 remains uncertain in the company established in 1989.
St Hilliers’ significant projects are located in Sydney, Brisbane, Townsville, and Perth. A subcontractor shared an SMS message on the Subbies United website, stating that all sites would be closed until further notice.
Sub-contractors were informed that they could retrieve their tools from the site, with strict conditions in place. The company gate will remain locked, and the subcontractor business owner will receive guidance on the next steps from the appointed administrator.
WLP Restructuring partners Glenn Livingstone and Alan Walker were appointed on Sunday as voluntary administrators of St Hilliers Contracting, the company’s construction division (pictured are workers in Brisbane)
The voluntary administration encompasses various entities, including ST Holdings Pty Limited, St Hilliers Pty Limited, St Hilliers Contracting Pty Limited, STH Bonding Pty Limited, SHC Civil Pty Limited, St Hilliers Inventive Pty Limited, and SH Newstead Pty Limited.
WLP Restructuring confirmed that work has ceased across all 21 active construction sites. The administrators expressed their commitment to resume work and explore options for St Hilliers to continue trading while renegotiating debts. They aim to facilitate the earliest possible resumption of project works and preserve as many jobs as possible among the remaining 80 staff members.
St Hilliers, a 34-year-old residential, commercial and infrastructure building company has told sub-contractors not to come into work at 21 sites, with seven divisions within the group now in administration
The first creditors’ meeting is scheduled for February 14. Fortunately, the company’s property development and investment division, St Hilliers Property, remains unaffected. This development comes three months after the Reserve Bank of Australia raised interest rates for the 13th time in 18 months, reaching a 12-year high of 4.35%, impacting the construction industry, particularly off-the-plan apartment building projects.
SOURCE: THE DAILY MAIL