A major Sydney-based property developer has suspended operations at a portion of its construction sites, leaving over 200 workers without jobs as administrators scramble to secure emergency funding to prevent a full collapse. Insolvency advisors confirmed that only select projects will proceed under new short-term financial arrangements, though no details were provided on which sites remain active. The move follows mounting financial pressures on the company, which operates across multiple construction projects. Workers and stakeholders are now awaiting clarity on next steps as the developer races to stabilize its operations.
Sydney-headquartered group suspends work on some of its 45 construction sites affecting 60% of workforceFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastMore than 200 workers at Sydney-headquartered Bathla Group have been stood down as administrators of the embattled property developer seek emergency funds to stave off a company-wide collapse.The insolvency advisory Teneo said on Monday that new short-term funding arrangements would only allow Bathla to continue construction on some of its 45 construction sites, though it did not identify which projects were being prioritised. Continue reading...
