Understanding the Collapse of Construction Companies
The Australian construction industry has faced a staggering crisis, with 2,213 companies entering administration between July 2022 and June 2023, including major players like Porter Davis and Condev. This sector accounted for nearly 30%of all insolvencies. The root causes? A perfect storm starting with COVID-19: Material Cost Surge: Pandemic-related shutdowns, especially in China, led to skyrocketing prices for building materials.