Cubitt’s Granny Flats and Home Extensions has announced it would put itself into voluntary management.
The construction company, which had been operating in NSW and the ACT for 30 years, announced on Tuesday it had made the “devastating decision”.
It is believed that Cubitt’s has collapsed due to the difficult economic climate and is urgently looking for a new buyer.
Earlier on Tuesday, employees were told at a meeting that the company was on its last legs.
“Where possible, we have personally informed our loyal and hardworking employees of our decision remotely via video, some of whom have been with us for more than 25 years,” a company statement said.
As news.com.au reported, the meeting was described as ‘very emotional’ and sad.
More to come