Eight Homes and Urbanedge Homes parent Mahercorp company enters voluntary administration

 Construction firm Mahercorp has entered voluntary administration, adding to a growing tally of homebuilders facing financial difficulties amid rising cost pressures.

The construction of about 730 homes will be put on hold as Mahercorp, which is the parent company for builders Eight Homes and Urbanedge Homes, works with administrators.

The news comes in the wake of the collapse of construction firm Porter Davis, which left uninsured customers stranded and in need of government intervention.

However, in a statement to customers, Mahercorp chief executive Steve Maher made clear that the firm was not in the same position as Porter Davis.

Read More: https://www.abc.net.au/news/2023-04-21/mahercorp-urbanedge-eight-homes-voluntary-administration/102253982