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Building slump claims another victim
Nov 14, 2012 (The Australian Financial Review - ABIX via COMTEX) --
A New South Wales-based construction company has been placed in administration. The collapse of the Procorp Group of Companies is a further blow to the construction industry. According to the Australian Securities & Investments Commission, the construction industry has reported the largest number of insolvencies during 2012. The failure of several large building companies is thought to have contributed to the failure of smaller groups. The tightening of banks' lending policies is also thought to be playing a major role in the trend.
Publication Date: 15 November 2012
THE PROCORP GROUP PTY LTD
HOLMWOOD PTY LTD
HALL CHADWICK AUSTRALIA PTY LTD
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION
QBE INSURANCE GROUP LIMITED - ASX QBE
ST HILLIERS CONSTRUCTION PTY LTD
REED CONSTRUCTIONS PTY LTD
HASTIE GROUP LIMITED - ASX HST
KELL AND RIGBY PTY LTD
BIS SHRAPNEL PTY LTD
RECOUP CONTRACTOR DEBT RECOVERY
NATIONAL ELECTRICAL AND COMMUNICATIONS ASSOCIATION
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA
SOUTHERN CROSS CONSTRUCTIONS
MASTER BUILDERS AUSTRALIA INCORPORATED
RESERVE BANK OF AUSTRALIA
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UPDATED 4:08 AM EST - Jun 20, 2013
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