Major construction company goes bust

A major Australian home building company has entered receivership in one state capital, leaving people thousands of dollars out of pocket.

Hotondo Homes in Hobart has entered receivership just weeks after speculation a closure was imminent.

Dozens of clients have reportedly been left out of pocket as a result of the liquidation, which occurred on January 4.

The Mercury reported a customer of the company received an email last night stating that Hotondo Homes was placed into liquidation.

“We understand that the Company was in the process of constructing a residential dwelling for you,” the email read.

“We are currently working with the Company’s staff and contractors to understand the current status of each contract and the options available to you.”

It’s believed as many as 80 contractors and 40 customers are likely to be financially impacted.

More to come.

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