DCB Developments collapses: construction company that counted KFC, Guzman and Gomez and Hungry Jacks as clients appoints administrators
- Another construction company collapses
- The company provided services to major fast food chains
- A subbie owed $400,000 in unpaid fees
Another construction company that served some of the largest fast food chains in the world has gone bankrupt with subcontractors leaving nearly $400,000 out of pocket.
Construction company DCB Developments went bankrupt after weeks of doubts about the company’s future.
The South East Queensland company, which develops commercial and retail spaces, reportedly owes a subcontractor nearly $400,000.
DCB Developments is the latest company to go under after administrators were called in to officially write out the construction company that had been operating for 15 years
The developer was contracted for construction services by fast good giants including Hungry Jacks and KFC.
At the time administrators intervened, DCB Developments was developing a $60 million service center in Currumbin.
The complex would house a number of retail outlets, including a Coles Express, a 24-hour gym, a Shell petrol station and a KFC store.
The construction company was on the ropes for several weeks as speculation about its future mounted before administrators from services company PKF Melbourne stepped in to begin winding down the company’s operations.
Audit and consultancy firm PFK Melbourne were brought in to place the company in receivership.
The company has been around for 15 years because it is a forced closure.
An email sent by the company said they are yet to take next steps to arrange its decommissioning.
“DCB has stopped trading,” the email read.
“We are working with a non-appointed trustee and an administrator to understand the next steps.”
‘You will receive an e-mail with the outcome in due course’.
Several subordinates have claimed they were paid by DCB Developments after it went bankrupt, with a subcontractor claiming they owe nearly $400,000 in payments
Several subordinates have claimed they haven’t been paid in weeks, and one contractor is still waiting for money from the service center project.
It comes as another known as DCB Dev Pty Ltd which is also on the verge of going under after being founded in March by the company’s managing director Christian Bright.
Chief Executive of the Australian Constructions Association (ACA) Jon Davies, the construction industry is a tough one.
He the Courier Mail which was bad with productivity across the industry.
“On the current trajectory, we simply will not be able to deliver the current pipeline of new energy, housing, defense, transportation and social infrastructure in a timely manner,” he said.
Australia’s construction industry needs to be revamped from the ground up, according to a report from the ACA.
Mr Davies said a national body should be set up for the sector to oversee the sector in the form of a national construction strategy to help the struggling industry.
“We are urging government, industry and unions to come together and make improving construction productivity a nation-building priority,” he said.