PHOTO: The Australian construction industry is under massive pressure. FILE
Yet another Australian construction firm has opted for voluntary administration in a last-ditch effort to reorganize and persevere, all while pointing to the challenging economic climate as a primary factor.
Harmac Group vehemently maintains that the company has not experienced a complete collapse and intends to collaborate closely with the appointed administrators to ensure the completion of homes for their existing customers.
Under the administration process, several subsidiaries, including Harmac Homes, Harmac Constructions, Harmac Urban Living, and Ridge Homes, will be subject to evaluation and management.
SOURCE: THE DAILY MAIL
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