Another company working within the construction and manufacturing sectors has been placed in receivership after over three decades in business.
Smart Company reports Tasmanian modular home builder Mornington Park Homes has gone bankrupt and administrators are seeking “urgent” expression of interest for the business.
On its website Park Homes says it manufactures the largest transportable homes in Tasmania, and has produced almost 3,000 units over 32 years.
According to the Australian Securities and Investment Commission one-fifth of company collapses last year were in the construction business.
For companies with a combined exposure to the weakened manufacturing and construction industries times are particularly tough, with a number of niche businesses going bankrupt over the past months.