- Documents filed show the Holland Park-based company owes creditors $7 million
- At the time of liquidation, the builder had 48 projects underway
- 45 staff were employed
The first homebuilder to collapse in Queensland for 2023 has been confirmed.
LDC, based in the southern Brisbane suburb of Holland Park, has called in liquidators from Mcleods Accounting.
ASIC documents show LDC, founded in 2018, owes $7 million to its creditors and subcontractors.
The company had 48 projects underway, including many custom home builds.
The directors have blamed ongoing supply shortages, the cost of labour, and delays for the liquidation.
LDC has 43 staff and owes more than $1 million in land. Sources suggest the company completed $19.4 million in works last year, and over $31 million the year before.
The news comes as ASIC figures show that 1,284 construction companies collapsed during the 2021-22 fiscal year. This represents more than a quarter of all insolvencies.
