Victorian building company Grandeur Homes has gone into administration seven weeks after claiming it was “thriving”, putting construction work on more than 100 projects on hold.
Asic documents show it went into external administration on Friday, with Sam Kaso and Daniel Juratowitch of Cor Cordis appointed to the company.
A Cor Cordis spokesperson told 9news.com.au that construction works will be paused during the process as administrators assess the business and explore future options.
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“We’ve commenced an urgent review of Grandeur Homes’ financial position and are working with parties to explore the possibility of developing a proposal to restructure the business,” the spokesperson said in a statement.
The administrators said they were aware that some of Grandeur Homes’ customers had been struggling to hear back from the company.
“We understand there are 108 homeowners affected by our appointment and have been made aware some homeowners have had difficulties obtaining updates from the company on the progress of their construction recently,” the statement read.
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“We have been in direct contact with homeowners already and set up a new dedicated email address for customers, employees, and creditors to provide regular updates as we work through the voluntary administration process.”
Grandeur Homes, which brands itself as the “leading custom home builder in Victoria, recently hit out at reports about customer dissatisfaction and financial troubles.
“The recent rumours about our company applying for cancellation of registration are completely false,” it said in an Instagram post on July 15.
“We are thriving and our projects are progressing excellently.
“Our sites are fully operational, and our customers are very satisfied with our work. Please disregard these false social media claims.
“We remain dedicated to completing all houses under construction as quickly as possible.
“Thank you for your continued support and trust.”
Cor Cordis’ spokesperson did not address 9news.com.au’s questions about how the company could go from “thriving” to appointing external administrators so quickly.
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