BREAKING Victorian-based home builder Porter Davis is teetering on the edge, leaving dozens of subcontractors unpaid and potentially hundreds of aspiring home owners in limbo.
A large Victorian-based home builder with more than 400 employees is teetering on the edge leaving dozens of subcontractors unpaid and potentially hundreds of aspiring homeowners in limbo.
Subcontractors working for Porter Davis Homes say they haven’t been paid for work done on the volume builder’s projects, leading to concerns the company is sliding towards administration. was ranked the 13th largest home builder in Australia with construction started on 1,734 homes in the 2020/21 financial year.Well-placed sources not authorised to speak publicly said the builder was looking for a buyer on Thursday night, but was unable to find a last-ditch saviour. The group’s directors are preparing for Grant Thornton to be appointed as liquidators to the group and a formal announcement to staff is expected on Friday morning.
John Goddard from Subbies United said multiple subcontractors working on Porter Davis projects had not been paid in the past few months, with some not receiving payments since before Christmas. “Suppliers have stopped their accounts and subbies are not working for them,” Goddard said. “They’re another box builder basketcase.”Its struggles come as the construction industry faces increasing pressure in the aftermath of the pandemic.
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