Porter Davis

Home builder Porter Davis enters liquidation, with work on 1700 homes in Victoria and Queensland stopping immediately, while the ASX opens higher on its ...

"Any time a bank fails, it is cause for serious concern. [The Age ](https://www.smh.com.au/business/companies/home-builder-porter-davis-in-trouble-20230330-p5cwvn.html)reported that the group had been unsuccessfully looking for a buyer and were preparing to appoint liquidators. It's like everyone has lost hope. But fast forward to 2023 and the mood has completely changed. By Kate Ainsworth I believe it is appropriate to assess the impact of these deregulatory decisions and take any necessary actions in response," Yellen said.

Australia's thirteenth largest home builder Porter Davis Homes has collapsed suddenly placing 1700 projects in jeopardy across Victoria and Queensland.

[went into liquidation](https://www.news.com.au/finance/business/other-industries/two-more-building-companies-collapse-in-nsw-and-queensland/news-story/093ca893692de2edda1c631456919e71) this month while Allworks Building Pty Ltd, a NSW company went under too. [award-winning residential construction company](https://www.news.com.au/finance/business/other-industries/victorian-construction-company-delco-building-group-collapses-owing-780k/news-story/108a233fe012a6b4d23b8982acdfcf5d) Delco Building Group in Victoria went under owing $780,000 to 50 creditors. [to $50 million](https://www.news.com.au/finance/business/other-industries/major-nsw-luxury-apartment-builder-eq-constructions-collapses-owing-up-to-50m/news-story/c671506c89c395f80c902c3ddf313303), then Perth building company called Hamlen Homes going into [administration with $1.4 million](https://www.news.com.au/finance/business/other-industries/perth-building-company-hamlen-homes-collapses-into-administration/news-story/3a0e43cfdc93e07fd71ae534541c04ab) reportedly owed to creditors. [residential builder Hallbury Homes](https://www.news.com.au/finance/business/other-industries/melbourne-builders-12m-collapse-impacts-62-homes/news-story/23f4fa060c951ca7399754dcc01c8a71) also went into voluntary administration. [multimillion-dollar firm](https://www.news.com.au/finance/business/other-industries/mans-devastating-discovery-at-queensland-building-site/news-story/776cf7cc96d523b58fccbcece3cae301) which does a mix of commercial and residential projects across Queensland, NSW and the ACT, sent shockwaves through the industry when it collapsed. Porter Davis Homes (PDH) has over 1500 current homes in progress in Victoria and a further 200 homes in Queensland.

A home builder that was forecasting $555 million in revenue this financial year has called in liquidators after it was unable to secure the funding needed ...

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The large Victorian home builder had 1700 projects on the go in Victoria and Queensland, and had also signed 779 contracts with customers for upcoming ...

[Simon Johanson](/by/simon-johanson-hve7g)is a business journalist at The Age and The Sydney Morning Herald.Connect via [Sarah Danckert](/by/sarah-danckert-ghhbnm)is a business reporter who specialises in investigations and corporate wrongdoing. One employee, who has been with the company for eight years and the building industry for 40 years, said the collapse of the company was a sign of the times. She is a two-time Walkley Award winner, and has won six Quill Awards and two Kennedy Awards.Connect via [Najma Sambul](/by/najma-sambul-p5364y)is a reporter at The Age.Connect via The company operates mainly in Victoria and south-east Queensland. They added they were hopeful that a solution could be found to support Porter Davis customers in completing their homes. Grant Thornton said work would cease immediately on all projects being conducted by Porter Davis’ group of companies in Victoria and Queensland.

Two of Australia's largest construction giants have gone into administration on the same day as soaring cos...

"Like others in the construction sector, and despite significant effort, Lloyd Group has been unable to overcome increasingly challenging circumstances over recent months that have eroded project margins, culminating in our appointment today. "The extremely challenging environment for residential home building has directly contributed to the PDH Group's financial position, with rising input costs, supply chain delays, labour shortages, and a drop in demand for new homes in 2023 impacting the Group's liquidity," a spokesperson for Grant Thornton said.

Porter Davis, a major Australian building company known for its house and land packages, has gone into liquidation.

Porter Davis, a major Australian building company known for its house and land packages, has gone into liquidation. A major Australian building company, known for its house and land packages, has gone into liquidation, leaving hundreds of projects in the lurch. House building company Porter Davis goes into liquidation

A major Victorian builder has collapsed and another construction firm has entered voluntary administration, in a further sign pressures on the construction ...

"The extremely challenging environment for residential home building has directly contributed … Construction on all current Porter Davis builds has been suspended immediately, with 1,500 unfinished homes in Victoria and another 200 in Queensland. The construction company has about 470 employees and was forecasting revenue of $555 million in the 2023 financial year.

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

[ pandemic-era HomeBuilder program](https://www.theguardian.com/australia-news/2020/jun/04/who-is-eligible-for-homebuilder-grants-and-how-much-will-they-have-to-spend), which saw a surge in demand at the same time costs for materials and labour surged. “There is no one particular factor that anyone can point to - it’s an industry wide issue. The UDIA and the Master Builders Association have said the changes could add time and cost to projects and have called for its implementation to be delayed. The company specialises in the design and construction of building and infrastructure projects for state and local government, primarily in Victoria and NSW. “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. One of Australia’s largest home builders Porter Davis has collapsed and construction firm Lloyd Group has gone into voluntary administration in a hit to the sector.

Amber-lea and Dion Drinnan's dream of building their first home has become a nightmare following the collapse of Porter Davis Homes, which has left 1700 ...

“In terms of things, it’s not a huge amount, but it’s really upsetting,” Peter, who is 76, said. A concrete slab was poured on their block of land in March, but no other work had been done since. Liquidators Grant Thornton advised that customers with contracts could register their claims by directly contacting the Victorian Managed Insurance Authority. “I’m very, very stressed,” Sigdel said. They received an email about the liquidators’ appointment late on Friday morning. “I just can’t believe it.

One of Australia's biggest companies, Porter Davis, was forced to stop work today on 1500 homes after going...

[here](https://www.grantthornton.com.au/creditors-information/creditors-information-n-t/pdh-group-pty-ltd/). READ MORE: