{"id":38862,"date":"2022-05-30T14:10:04","date_gmt":"2022-05-30T02:10:04","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=38862"},"modified":"2022-05-30T14:10:04","modified_gmt":"2022-05-30T02:10:04","slug":"queensland-company-solido-builders-joins-long-list-of-construction-firms-biting-the-dust-watch","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/queensland-company-solido-builders-joins-long-list-of-construction-firms-biting-the-dust-watch\/","title":{"rendered":"Queensland company Solido Builders joins long list of construction firms biting the dust | WATCH"},"content":{"rendered":"<p><strong>PHOTO: Solido Builders<\/strong><\/p>\n<div class=\"description g_font-long-format\">\n<p>Another Australian building company has bitten the dust in what has been a horror week for the construction industry.<\/p>\n<\/div>\n<p>Over the weekend, Queensland construction firm Solido Builders revealed it had sadly appointed liquidators.<\/p>\n<p>The small Cleveland-based company was founded by husband and wife duo John and Libby Hattink in 2014. They said the business was too hard to keep going amid the ongoing industry crisis, which included skyrocketing material and labour costs and long delays.<\/p>\n<p><iframe title=\"Solido builders in Liquidation #ConstructionApocalypse\" width=\"1380\" height=\"776\" data-src=\"https:\/\/www.youtube.com\/embed\/y9vVbCmth1w?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"0\"><\/iframe><\/p>\n<p>\u201cMargins are already thin, especially for smaller builders,\u201d Mr Hattink said, according to\u00a0<a class=\"body-link\" href=\"https:\/\/www.couriermail.com.au\/business\/qld-business\/double-trouble-two-builders-collapse-as-costs-surge\/news-story\/f4288291c342d7654b432e9dd6dceaf2\" target=\"_blank\" rel=\"noopener\" data-tgev=\"event119\" data-tgev-container=\"bodylink\" data-tgev-order=\"f4288291c342d7654b432e9dd6dceaf2\" data-tgev-label=\"business\" data-tgev-metric=\"ev\">the Courier Mail<\/a>.<\/p>\n<p>\u201cWe made a loss on a few projects and decided the best thing was to wind things up. Our subbies have been paid and we have not just pulled the rug out from under people.\u201d<\/p>\n<p>The Cleveland-based company specialised in customised luxury homes. It is unclear how many builds were in the pipeline when they pulled the plug.<\/p>\n<div class=\"entry-featured-img-wrap\"><a class=\"entry-featured-img-link\" href=\"https:\/\/propertynoise.co.nz\/au\/construction-firm-pivotal-homes-collapses-watch\/\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-hoot-medium-thumb  entry-content-featured-img entry-grid-featured-img wp-post-image lazyloaded\" src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2022\/05\/Pivotal-Homes-460x270.jpg\" alt=\"Pivotal Homes COLLAPSES\" width=\"460\" height=\"270\" data-src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2022\/05\/Pivotal-Homes-460x270.jpg\" \/><\/a><\/div>\n<div class=\"entry-grid-content\">\n<header class=\"entry-header\">\n<h2 class=\"entry-title\"><a href=\"https:\/\/propertynoise.co.nz\/au\/construction-firm-pivotal-homes-collapses-watch\/\" rel=\"bookmark\">Construction firm Pivotal Homes COLLAPSES | WATCH<\/a><\/h2>\n<\/header>\n<\/div>\n<p>It comes amid a growing crisis in the construction sector, with half a dozen building companies forced to fold in the last few months.<\/p>\n<div id=\"ad-block-4x4-1\" class=\"w_unruly ad-block ad-custom unruly_insert_native_ad_here\" data-type=\"unruly\" data-ad-size=\"4x4\" data-device-type=\"web\" data-ad-tar=\"pos=1\" data-ad-pos=\"1\" data-google-query-id=\"CMqUgs6PhvgCFYOUZgIdH1AFdA\"><\/div>\n<div class=\"media image side-by-side\">\n<div class=\"responsive-img\" data-desiredimagesize=\"block_large_image\"><img decoding=\"async\" class=\"responsive-img_img inline-image ls-is-cached lazyloaded\" src=\"https:\/\/content.api.news\/v3\/images\/bin\/e82ec52d3e4e4d7ad6efd7f937b3858a\" sizes=\"(max-width: 600px) 100vw, (max-width: 1000px) 50vw, 650px\" alt=\"John Hattink made the heart breaking announcement about the company over the weekend.\" width=\"715\" height=\"402\" \/><\/div>\n<p><em><strong>John Hattink made the heart breaking announcement about the company over the weekend.<\/strong><\/em><\/div>\n<div class=\"media image side-by-side kskd-media\" data-kiosked-context-name=\"kskdUIContext_01g49ax7hpr2w4agcaa8kaqsjk\">\n<div class=\"responsive-img\" data-desiredimagesize=\"block_large_image\"><img decoding=\"async\" class=\"responsive-img_img inline-image ls-is-cached lazyloaded\" src=\"https:\/\/content.api.news\/v3\/images\/bin\/fc1f947c0970a397f366b549732eb0c9\" sizes=\"(max-width: 600px) 100vw, (max-width: 1000px) 50vw, 650px\" alt=\"Libby Hattink co-founded the company with her husband in 2014.\" width=\"717\" height=\"403\" \/><\/div>\n<p><em><strong>Libby Hattink co-founded the company with her husband in 2014.<\/strong><\/em><\/div>\n<p>Queensland has been hit particularly hard by the flailing construction sector.<\/p>\n<p>Just last week,\u00a0Gold Coast-based construction firm Pivotal Homes\u00a0also announced it was insolvent.<\/p>\n<p>All\u00a016 of its staff were fired on the spot at a company boardroom meeting\u00a0and customers have been left in the lurch, with one family concerned about what will happen to their $18,500 deposit.<\/p>\n<p>The boss of the collapsed Pivotal Homes, Michael Irwin, blamed savaged \u201cgouging\u201d tradies, who he said were taking advantage of rising supply costs to bump up their prices, which was ultimately putting builders out of business.<\/p>\n<p>Just two months ago, in March, the owners of construction giant Condev fought back tears as they delivered the news that they had placed their company into the hands of liquidators.<\/p>\n<p>Co-founders Steve and Tracy Marais were unable to secure a reported $25 million bailout from developers to deal with rising building costs and Covid delays.<\/p>\n<p>Ms Marais said there was enough money in company coffers to pay accounts for the next three months, but the decision was made to go into liquidation earlier so as not to \u201churt people more\u201d.<\/p>\n<p>Notable projects in Condev\u2019s reported $1 billion development pipeline include the Cannes Waterfront in Surfers Paradise, The Brookes Residences in Varsity Lakes, Natura and Brake Street both in Burleigh, and the Jindi Apartments in Palm Beach.<\/p>\n<p>Then in December, Queensland home builder Privium went bust. But it emerged that added to the industry\u2019s general woes,\u00a0Privium had also made an ill-advised $3 million punt on cryptocurrency.<\/p>\n<p>Liquidators FTI Consulting concluded Privium had likely been trading while insolvent since late August 2021.<\/p>\n<p>At the time of the collapse Privium chief executive and founder Rob Harder said he was \u201cdeeply sorry\u201d.<\/p>\n<p>READ MORE VIA<a href=\"https:\/\/www.news.com.au\/finance\/business\/other-industries\/queensland-company-solido-builders-joins-long-list-of-construction-firms-biting-the-dust\/news-story\/540b67a1ff4244675b31a6b53a838861\"> NEWS.COM.AU<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: Solido Builders Another Australian building company has bitten the<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/queensland-company-solido-builders-joins-long-list-of-construction-firms-biting-the-dust-watch\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":38863,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098512,478121512,478119723,478098521,478121516,478098519,478121513,478121514,478121517,478098513,478098579,478098510,478121515,478098511,478098509,478121511],"class_list":["entry","author-data123nz","post-38862","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-australia","tag-australian-building-compan","tag-australian-building-company","tag-australians","tag-customised-luxury-homes","tag-home-ownership","tag-john-and-libby-hattin","tag-john-hattink","tag-pivotal-homes","tag-property","tag-property-market","tag-property-news","tag-queensland-construction-fir","tag-real-estate","tag-real-estate-news","tag-solido-builders"],"yoast_head":"<!-- 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