Australian construction company Giant St Hilliers has gone into voluntary administration. According to sources almost 20 construction companies have been shut down. The company handles various projects including education, health and military ones. Glenn Livingstone and Alon Walker from WLP Restructuring are appointed as administrators. They have administered several entities within the St Hilliers group of companies.
The company has several entities including St Holdings Pty Limited, St Hilliers contracting Pty limited, STH Bonding Pty Limited, SHC Civil Pty Limited, St Hilliers Pty Limited, St Hilliers Inventive Pty Limited and SH Newstead Pty Limited. Meanwhile, ST Hilliers contracting is the only affected entity.
St Hilliers Property remains unaffected which works in property development and investment division. The administrators have secured almost 21 active construction sites. However, work has been paused.
Considering the situation, 80% of the company’s staff will remain employed. Meanwhile, 22 percent have been made redundant. Livingstone said that they are working closely with the stakeholders and staff. They are trying to recommence project works at the earliest opportunity.
He also adds that we are hopeful this can occur in the coming days and employment of the various staff could be preserved.
The first creditors meeting is expected to be held on or before 14th February.
