Roxy Theatre project developers the Lloyd Group entered voluntary administration on Friday.

Leeton Shire Council was telephonically advised at 11.30am that day that the Lloyd Group had gone into voluntary administration at 7am that morning.

The Group has 59 state and local government projects under construction in Victoria and NSW.

Deloitte was appointed as the Administrator and was expected to be in touch with Leeton Council over the coming days on the next steps.

To date the Leeton Council has only paid for work completed that has been independently certified and to Council’s knowledge all local contractors had been paid for works done to date.

However this will be verified over the coming weeks.

A Council spokesperson said as soon as Council understood the full situation a further statement would be provided.

The large construction firm specialises in building schools and other government infrastructure and was the second firm within 24 hours to collapse as mounting pressures in Australia’s building industry reached a crisis point.

Major home builder Porter Davis is also in the financial doldrums.

The firm’s liquidators would not release details of its 59 uncompleted developments. It employs 470 staff and has appointed Grant Thornton as liquidator.

Work stopped immediately on 1700 new house builds, leaving hundreds of subcontractors in limbo.

Deloitte Turnaround & Restructuring partners Sam Marsden, Sal Algeri, Jason Tracy and Tim Norman were appointed as voluntary administrators of six Lloyd Group companies.

Lloyd’s hundreds of subcontractors, staff and suppliers are dealing with the same uncertainty and financial loss as that confronting Porter Davis’ creditors.

This article appeared in the Narrandera Argus, 6 April 2023.