A second South Australian construction company has collapsed in the space of a month as the industry faces increasing supply chain issues and labour shortages.
Builder Wake Concepts, which was involved in the construction of the One Festival Tower in Adelaide's CBD, went into liquidation today, as confirmed by documents on the Australian Securities Investments Commission.
Wake Concepts employs around 100 staff.
Anthony Phillips from insolvency firm Heard Phillips Lieberenz was appointed as liquidator.
Phillips has been appointed liquidator for three of Wake Construction's arms including Wake Concepts, Wake Carpentry and Wake Construction Group Pty Ltd.
"Wake Concepts has ceased to trade, and all employees have been given notice of termination today," Phillips said.
"The liquidator's most urgent task is to help employees get paid, and at first instance that will be by facilitating claims in the Government's Fair Entitlements Guarantee Scheme ("FEG") and the Building Industry Redundancy Scheme ("BIRST").
"The liquidator will be working with unions, FEG and BIRST offices to provide the assistance it can.
"In the longer term, the focus will be on realising as much as can be from the Company's projects and investigating the cause of the Company's failure."
Fellow South Australian builder Qattro Built Pty Ltd entered liquidation earlier this month owing more than $4.5 million and leaving more than 200 projects incomplete.
Director Bradley Jansen blamed the post-COVID-19 world including supply chain and labour shortages for the collapse.
"I am devastated to make this decision after three exceedingly difficult years of efforts trying to recover the post-COVID financial sustainability of the company," Jansen said.
