Chelbrooke Homes: Building firm collapses amid dire industry warning

Another Aussie building firm has collapsed with one expert issuing a dire warning about the industry.

Chelbrooke Homes, which was founded in 1998 and operated in Brisbane, Gold Coast and northern NSW, has called in liquidators.

The business held a category three licence which allowed it to complete residential work worth up to $30m a year, The Australian reports.

The amount of work by the building firm had dwindled in recent years with just one job completed this financial year.

It is believed the firm found it difficult to recover from the pandemic.

It’s a tragic fall from grace for the company that was once worth $24m and undertook 68 projects in 2013/2014.

Master Builders Gold Coast regional manager Adam Profke told the publication that more pain was on the way for the building sector.

“Lot of firms have been hanging on for a long time,” said Mr Profke.

“But now they are falling everywhere.”

The collapse of Chelbrooke comes a week after Brisbane construction company DCB Developments also called in liquidators.

The company had an extensive client list that included KFC, Guzman y Gomez and Hungry Jacks.

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