Home Australia Another Aussie building company collapse leaves homeowners thousands of dollars out-of-pocket

Another Aussie building company collapse leaves homeowners thousands of dollars out-of-pocket

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The builder SA JAC Homes has gone into liquidation (in the photo, one of its works)

A construction company has gone bankrupt in South Australia, leaving several homeowners with half-finished properties for which they had already handed over large sums of cash.

JAC Homes was placed into liquidation this week, according to documents filed with the Australian Securities and Investments Commission, and customers are unsure whether they will receive any of their money after assets are sold to pay off debts.

Oracle Insolvency Services has been appointed liquidator for the company which has operated in the Murray Bridge, Srathalbyn and Coorong regions for three decades.

The owner of JAC Homes announced on their website that the ‘stress’ of the company’s collapse had affected them personally.

“After many years of proudly serving our customers and building homes with dedication and care, we have made the difficult decision to cease operations,” the note says.

‘This decision was not made lightly. The current challenges and circumstances have significantly impacted our ability to continue operating, and the resulting stress has affected both the business and my personal well-being.

‘I want to sincerely thank our clients, subcontractors, suppliers and partners who have supported JAC Homes throughout our journey. Your trust and collaboration have meant a lot to us and I am deeply grateful for the opportunity to work with so many wonderful people over the years.

“Thank you again for your understanding and support.”

The builder SA JAC Homes has gone into liquidation (in the photo, one of its works)

Hundreds of construction companies have collapsed in Australia in recent years amid rising material and labor costs.

Hundreds of construction companies have collapsed in Australia in recent years amid rising material and labor costs.

Some of JAC’s clients had complained for months that their properties were left unfinished or had construction defects that were not rectified.

The first owners, Ahmed Tayba, 32, and his partner Kelly moved into their four-bedroom JAC home last year and say they quickly discovered it was plagued with problems that would cost $50,000 to repair.

“It’s a nightmare, it makes you never want to do it again,” Mr Tayba said. The Adelaide Advertiser.

They said problems included the house having no garage door or driveway, damaged bricks, cracked tiles, holes in the walls and lack of insulation.

The couple added that they were having trouble getting contractors to even look at the problems because “they don’t want to touch another builder’s house.”

Another customer, Simon Wilden, said his house also had no driveway or fences and that a rainwater tank had been left disconnected in the backyard.

He added that he had “chased the site supervisor for weeks” after his family’s move-in date was pushed back again and again.

It is understood that the builder has around 10 homes under construction.

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