Breaking: Border housing company goes bust

LATEST NEWS: BORDER building and housing company Procorp has gone into administration.

NSW Fair Trading Minister Anthony Roberts confirmed the closure of Procorp, which also operates under the names of Procorp Homes, Procorp Builders and Holmwood Builders.

It is not yet clear how many properties are currently under construction by Procorp on the Border, but Mr Roberts’ office estimates between 80 and 100 dwellings across Sydney, the Hunter, South Coast and Riverina could be affected.

Procorp has been particularly active at Thurgoona, where it has been a major developer.

Hall Chadwick Chartered Accountants has been appointed Administrator.

More details as they come.

Today's news follows the demise of another Border building company, Ultimate Build & Design, earlier this year.

Mr Roberts said consumers, sub-contractors and suppliers of affected businesses can call the Fair Trading hotline (13 32 20) for advice on their rights.

“Any subcontractor or supplier who believes they are owed money by the companies should lodge a proof of debt, along with supporting documentation, to the administrator,” Mr Roberts said.

More information can be found at www.fairtrading.nsw.gov.au.

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