Another major Australian construction firm has collapsed with staff told not to come into work as liquidators are appointed.

Australian construction firm, Condev will go into liquidation after failing to secure a reported bid for $25 million from developers.

The Gold Coast-based builder announced Tuesday a liquidator was being sought to take over its affairs.

Last month, another local construction giant, Probuild was placed into administration citing similar issues with rising business costs.

Condev founders Steve and Tracey Marais met with some of Australia biggest developers earlier in the week to ask for assistance, but were unsuccessful, The Australian reported……

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Source: News