Hundreds of jobs at risk as construction giants collapse with 1700 homes unfinished [Video]

One of Australia’s largest home builders Porter Davis has collapsed and construction firm Lloyd Group has gone into voluntary administration in a massive hit to the sector.

Grant Thornton Partners confirmed it had been appointed liquidators of the Porter Davis Homes Group, covering 14 companies.

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Englehart Homes is the only company in the group not subject to liquidation.

Works on current builds will stop immediately, although liquidators are working to find a solution to support customers and some employees, liquidators Grant Thornton said.

Porter Davis has more than 1500 homes in progress across Victoria and 200 properties in Queensland, while a further 779 customers have signed contracts where building is yet to commence.

Rising input costs, supply chain delays, labour shortages and falling demand contributed to Porter Davis’s collapse, the liquidators said.

“Notwithstanding the financial support from shareholders and lenders, the …