Building project management company Exel Infragroup Pty Ltd collapses: Lead contractor on a multimillion dollar Victorian government project goes into liquidation
- Construction company Exel Infragroup Pty Ltd has collapsed
- Victorian-based business owes over $4.2million to 83 creditors
Yet another construction company has collapsed owing over $4million in the latest example of Australia’s worsening building industry crisis.
Exel Infragroup Pty Ltd, a company that until recently was the lead contractor of a multimillion dollar government project, entered liquidation on July 14.
The Victorian-based company has been appointed liquidators Petr Vrsecky and Paul Anthony Allen from insolvency firm PKF Melbourne.
Exel Infragroup owes $4.225million to 83 creditors, with liquidators hoping to return up to $350,000 to creditors by selling company assets including an oil rig.
Exel Infragroup Pty Ltd, a company that until recently was the lead contractor of a multimillion dollar government project, entered liquidation on July 14
The Victorian-based company (pictured) has been appointed liquidators Petr Vrsecky and Paul Anthony Allen from insolvency firm PKF Melbourne
‘They were making significant losses over the last few years. That’s essentially why the company’s gone broke,’ Mr Vrsecky told news.com.au.
‘By the time of the company’s collapse, there were only four employees left. The bulk of the creditors are subcontractors and suppliers.’
According to the group’s still active website, the construction company specialised in civil construction, directional drilling and railworks.
Exel Infragroup was previously engaged to work on Victoria’s Big Build – a series of road and rail infrastructure projects commissioned by the state government.
The company worked on the North East Line Upgrade at Lilliput and Balmattum in rural Victoria alongside a series of subcontractors.
Some of those subcontractors are now claiming they are owed thousands of dollars.
Synergy Traffic Management, based in Shepparton, were subcontractors to Exel Infragroup on the Big Build project.
Operations Manager Callum Phillips said that while Exel Infragroup received payment to complete the work, he is still waiting on $63,000 for his workers.
He says he’s been chasing the company for the last eight months, to no avail.
Synergy Traffic initiated winding up proceedings against Exel Infragroup but the company went into voluntary liquidation before the matter went to court.
Exel Galaxy, which operated in conjunction with Exel Infragroup, also collapsed back in 2020 owing $5million to creditors.
More to come.
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Read more at DailyMail.co.uk