At least 100 people are jobless and an unknown number of projects are in limbo after a major Australian construction company collapsed, citing “inflationary pressures”.
NPM (National Projects and Maintenance) Group, comprising 10 enterprises operating across Australia, went under on Monday.
“The ongoing market pressures have made NPM’s continued operation untenable, due to skilled labour shortages, inflationary pressures, interest rate rises and a commercial sector that continues to suffer from flow-on effects of COVID-19 pandemic,” director Daniel Afonso said in a statement.
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Throughout its run, NPM completed 45,000 projects.
It employed 100 full-time staff when it collapsed. They’ve been terminated, according to administrator Worrells.
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The number of projects it had on the go and how much money it owed have not been made public. 7NEWS.com.au has contacted Worrells for that information.
National Projects’ notable jobs include a series of offices and residential suites at Melbourne’s Southbank Boulevard and offices at Sydney CBD’s Australia Square business centre, as well as several school refurbishments in Queensland.
“NPM delivered this speculative fit-out project for our esteemed client Cushman & Wakefield, featuring multi-functional conference rooms, and break-out areas,” the company wrote on its website about an office suite on Wentworth St in Sydney.
“Complete make-good involving removal of existing facilities, provision of new cutting-edge design to professional material finishes ensure that this new spec fit-out will live up to the incoming tenant’s expectations for a modern, dynamic, and productive workspace.”
A National Projects worksite at Chifley, Sydney, in June 2020. Credit: Instagram
Worrells has released a statement, saying creditors, employees and other stakeholders can contact the firm to submit claims.
“The administration process is in its infancy and we are working hard to immediately establish the group’s financial position, including identifying assets available for realisation and quantifying creditors’ claims with the assistance of the director and the senior staff of the NPM Group,” Worrells’ Graeme Beattie said.
“We are conscious of the impact the appointment will have on everyone involved.”
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