Job Worries Over St. Hilliers Construction Collapse

Workers of St. Hilliers Construction are worried that their jobs are at risk after the company failed to get additional funding for its prison project. 

The company has now hired administrators from accounting firm Moore Stephens to work on saving parts of the collapsed company. Aside from St. Hilliers Construction, they will also administer over St. Hilliers Ararat. 

The company is one of the largest firms in New South Wales. It posts a yearly turnover of $500 million and has more than 1,000 subcontractors and 300 employees. Among its many projects include public housing and the Chullora market in Greenacre. 

Tim Casey runs the St. Hilliers. Since the controversy, Casey sold his home in Bellevue Hill for a cool $13 million. He is the son-in-law of Bart Cummings.

 

Casey said the company is still reviewing all possible options to infuse new capital to the business. He added that he hopes to find the best solution for the Ararat project.

 

The major hurdle comes just two months after work stopped in its Reed Constructions road projects. The Construction, Forestry, Mining and Energy Union also said it owes millions of dollars to the subcontractors of Reed.

 

Its state secretary Bill Oliver said the blame rests squarely on the Victorian government, stating that it failed to agree on financing the project. In the process, it also failed thousands of workers and contractors in Victoria.

 

Oliver also said the Victorian government has been aware of the issue since six months ago. Industry observers say the company appears to be heading to a major financial collapse.