Two Australian companies have collapsed after being caught up in the failure of a high profile property developer, which went under last year owing more than $280m.
The companies, called Tallahon No.1 and James 88, were owed $5.3m and $3m respectively as part of Dyldam Developments’ collapse, according to documents lodged with the corporate regulator ASIC (news.com.au).
Now those firms have gone into liquidation with Deloitte appointed to deal with the fallout.
Tallahon reportedly owned 41 units at Mt Druitt in Sydney’s west worth $20.5m, while Dyldam Developments was Australia’s third-largest apartment builder.
The latest collapses are part of a horror time for the construction industry, with dozens of companies failing in 2022 and the grim news continuing this year.
Award-winning residential builder Delco Building Group went under last week owing $780,000 to 50 creditors, which also impacted five large housing projects.