Grandeur Homes is on the verge of collapse weeks after claiming it was "thriving", putting construction work on more than 100 projects on hold.
company Grandeur Homes has gone into administration seven weeks after claiming it was "thriving", putting construction work on more than 100 projects on hold.
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."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.
"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.Grandeur Homes refuted claims it was in financial trouble in an Instagram post on July 15.
"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.
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