The company specialises in the design and construction of building and infrastructure projects for state and local government, primarily in Victoria and NSW.
Lloyd Group has also gone into voluntary administration, Deloitte confirmed on Friday. It also acknowledged the group’s 370 employees for their hard work and commitment to Porter Davis. The Porter Davis board of directors said it regretted the current circumstances but were hopeful a solution could be found to support Porter Davis customers in completing their homes. “The directors were left with no option but to place the companies into liquidation. “Notwithstanding the financial support from shareholders and lenders, the group has exhausted options to secure the further funding required to allow Porter Davis to continue to operate viably,” Grant Thornton said in a statement. Rising input costs, supply chain delays, labour shortages and dropping demand contributed to Porter Davis’s collapse, the liquidators said. Porter Davis has more than 1,500 homes in progress across Victoria and 200 properties in Queensland, while a further 779 customers have signed contracts where building is yet to begin. Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Works on current builds will stop immediately although liquidators are working to find a solution to support customers and some employees, Grant Thornton said. Englehart Homes is the only company in the group that is not subject to the liquidation.
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