Sydney construction firm Simone Homes collapses owing millions to tradies and homeowners
Sydney construction company Simone Homes is collapsing, owing millions to traditions and homeowners
Another construction company has gone bankrupt, leaving dozens of blighted tradesmen unpaid and clients without a completed home.
Family-owned Simone Homes Pty Ltd, based in Leppington in southwest Sydney, went into voluntary liquidation last week with debts of at least $1.65 million, according to a creditors’ report.
The amount due is expected to increase as many creditors are not yet required to provide proof of their claims.
It is clear that six construction sites have been affected by the collapse of Simone Homes.
Simone Homes Pty Ltd (display home pictured) is the latest construction company to go out of business
There are 11 unsecured creditors and 53 unsecured creditors, including subcontractors, suppliers, banks, customers and the Australian tax authorities.
Bradley John Tonks of insolvency firm PKF has been appointed as receiver.
The total assets of Simone Homes, founded in 2014, are worth $816,000, but some have zero realizable value, according to the trustee’s report.
Customers of Simone Homes are furious.
“Horrible company to work with. Save yourself the money and trouble and go elsewhere,” read a Google review posted a week ago.
“You’d better let a five-year-old build your house.”
Simone Homes Pty Ltd entered voluntary liquidation on August 24 with debts of at least $1.65 million
This is what the Simone Homes website looked like on Friday morning
Another disgruntled former client claims that their home built a few years ago is now leaking.
“I tried to contact the builder several times to get some advice on how to properly fix the problem, but they didn’t respond to my emails or answer my phone calls,” the Google spokesperson said. review posted a month ago.
The company’s social media accounts have been removed, while the website simply states, “we are building a new customer experience.”
Daily Mail Australia has contacted Simone Homes for comment.
Simone Homes joins a long list of construction companies that have gone into administration after the lockdown as the construction industry grapples with rising material costs and labor shortages.
Simone Homes joins dozens of Australian construction firms that have collapsed in recent weeks (stock image)