Skyfield Homes collapses: Gold Coast home builder goes into administration leaving unfinished homes and $1.5million in debt

Another construction company went bankrupt, leaving about 40 unfinished houses and debts of around $1.5 million.

Skyfield Homes, located on the Gold Coast, became the latest construction company to go into administration several weeks ago.

The company has construction sites in Brisbane, Nerang, Helensvale and Hope Island.

It is understood there are still 38 homes to be completed, while the company has accumulated debts of more than $1.5 million.

Michael Caspaney of Menzies Advisory was appointed administrator to take charge of the company’s finances on Monday.

Workers working at the company’s Gold Coast construction sites did not show up for work and the company’s website and social media channels were taken down.

It is understood that subcontractors working for the company were confused as to why they were asked to complete subcontracting forms relating to a sister company Focus Living, according to reports from the Gold Coast Newsletter

Skyfield Homes owns shares in Focus Living and both companies are run by Dazhi Wang.

More to come