Jobs lost as Walton Construction Enters Administration 3

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Monday, October 7th, 2013
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The construction company that worked on the $103 million refurbishment of department store David Jones store in Melbourne has collapsed.

About 30 workers will lose their jobs as the Walton Construction Group is wound up.

The two companies in the Melbourne-based group have been placed in administration as a result of the downturn in the construction industry and some poor results on projects in NSW.

In the past six months, the group has been able to transfer most of its projects to competitors, which has secured work for more than 80 staff, plus contractors.

“Unfortunately, about 30 employees will be without work and a small number of projects will be handled by the administrators,” Walton founder and managing director Craig Walton said.

“The wages and superannuation of the employees are up to date and they should receive other termination entitlements.”

At its peak, Walton Construction had 340 employees and turned over $360 million a year.

Key projects included the $103 million refurbishment of the David Jones department store in Melbourne.

Source: AAP

 

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3
  1. Site Manager

    Nice fairytale, Craig Walton. Employee entitlements have not been paid and according to administrators there is no money left to pay them with.
    Craig had office packed up around staff who had been told nothing.
    He then sent everything required to his new premises to start up the next day.

  2. Clinton Buckwell

    Having worked for them as a sub contract department and consequently dealing with their admin department it is suprising this didn’t happen earlier. Directors off companies like this should be barred from operating in the building and construction Industry should be held personally liable and barred from weorking in the Industry for 5 years

  3. Mr Contractor

    Not only have employee entitlment been lost but so has hundreds of thousands if not millions of dollars in sub contractor retentions. It should be law that construction firms should place rententions into an industry Trust fund that is accessible even after a company folds. The on flow affect of failing to pay retentions could result in many other employee’s in other companies losing their jobs.