Construction company Wake Concepts collapses in South Australia

South Australian construction company Wake Concepts has collapsed, leaving a host of unfinished projects and around 100 workers out of work.

On Wednesday, the company announced it would be “dissolved” and Anthony Phillips of Heard Phillips Lieberenz was appointed liquidator.

A statement released by Mr Phillips said his priority would be to ensure Wake Concepts employees were paid, before investigating what led to the company’s collapse.

“The liquidator’s most urgent task is to help employees get paid, and initially this will be done by facilitating claims under the government’s Fair Entitlements Scheme and Sector Redundancy Scheme of the building,” he said.

“In the longer term, the focus will be on achieving the company’s projects as much as possible and investigating the causes of the company’s failure.”

South Australian construction company Wake Concepts has collapsed, leaving many projects unfinished and around 100 workers jobless

Wake Concepts is involved in the Billion-dollar construction of Walker Corporation’s One Festival Tower, scheduled to be completed in 2023.

Established in 1982, Wake Concepts has been involved in major infrastructure and construction projects across South Australia, including work on the Oval Hotel, Luminesque Apartments at Sofitel and Ashford Hospital.

Earlier this month, major Adelaide housebuilder Qattro also went bust, putting around 200 housing projects in doubt.

According to Duncan Powell’s liquidators, the company owed more than $4.5 million to unsecured creditors, with more than 200 projects under construction or in the pre-construction phase.