Yet another business in the construction industry has collapsed, in further confirmation the sector is struggling to get back on its feet even after a slew of positive data.
Building and finance approvals have been improving over the last several weeks, along with auction clearance rates, which have maintained consistent results above 60%.
Trade Fusion, a builder of modular homes based in Griffith, New South Wales, has collapsed into administration. Bruce Gleeson of Jones Partners has been appointed administrator to the company – he was unavailable to comment before publication.
The business itself was also contacted, but its phone line appeared to be disconnected.
Trade Fusion was founded in 2004 based on what the business thought was a need to combine manufacturing and trade components. The business specialises in the construction of modular homes.
In a description of the business available online, Trade Fusion says it has a staff of 20 including apprentices, and that it combines a traditional construction company alongside a factory that produces roof trusses and wall frames, along with glass and aluminium projects.
While there is no information available regarding the background of the collapse, being exposed to two troubled industries would no doubt introduce significant challenges. SmartCompany has reported extensively on the pressures facing the manufacturing and construction industries – including several collapses.
Jones Partners is seeking expressions of interest for the company, with assets to be sold including intellectual property, land and buildings.