Gold Coast subcontractors could be out of pocket more than $2 million after a the collapse of a state-owned building company. The Herald Sun recently ran a storey on this matter and featured Acquire Trade Credit.
Here’s an excerpt:
Acquire Trade Credit business development manager Nathan Wrobel, who provides advice on credit management solutions, said the early indications from insurers “show a possible loss of $2 million”.
“We estimate that only 10 to 20 per cent of the Gold Coast construction industry is insured meaning uninsured losses could be considerably more,” Mr Wrobel said.
Some tradies could claim 90 per cent of their loss but others faced no returns if their insurers had indicated they no longer traded with Batir.