The struggling construction sector has claimed another victim with the collapse of D&G Verticon Hoist & Crane Hire.
The construction company has entered voluntary administration with 150 jobs in danger.
The collapse comes as the New South Wales Government launches an inquiry into the rising number of collapses occurring in the state’s construction industry, following the administration of Bluestone Construction in August, Reed Constructions in June and Kell and Rigby in February.
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D&G Verticon Hoist & Crane Hire was started in West Australia in 1998 and expanded to Queensland, New South Wales and Victoria with the acquisition in 2009 of the crane and hoist division of Verticon.
D&G Verticon’s Sydney projects include North Shore Private Hospital, Sydney Adventist Hospital in Wahroonga and terminals at Sydney Airport.
D&G Verticon’s website describes it as “Australia’s largest hoist and tower crane rental company”. However, the construction company appears to have been affected by the struggling construction sector, with Martin Jones and Andrew Saker of Ferrier Hodgson appointed as administrators last week.
The first meeting of creditors will be held on August 22 in Perth.
SmartCompany contacted D&G Verticon and Ferrier Hodgson but neither were available for comment prior to publication.