Bathla Group's administrators are granted more time for administration while funding talks continue
According to ABC News Business, administrators of the troubled property developer Bathla Group have been granted additional time to manage the company's voluntary administration while continuing funding negotiations with lenders. The report also notes that Built Living CEO Dale Connor stated the collapse highlights the need for strong financial backing in the industry and supports the shift toward off-site factory construction methods.
Key facts
- 01Bathla Group's administrators have been given more time to work through the voluntary administration process.
- 02Talks with lenders regarding further funding for the property developer are currently ongoing.
- 03Built Living CEO Dale Connor stated that the collapse highlights the risk of developers operating too close to the financial edge.
- 04Connor argued that the incident supports the case for moving more construction into controlled factory environments to guarantee quality.
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- Construction stops on Sydney Bathla sites as funding exhausted · The Age
- Construction stops on Sydney Bathla sites as funding exhausted · The Sydney Morning Herald National
- Bathla administrators given more time as funding talks continue — as it happened · ABC News Business