The Lavington-based business has up to 130 creditors with Wagga insolvency specialists Chris Chamberlain and Steven Priest appointed as administrators last Wednesday.

The first meeting of creditors will be held at Albury’s Commercial Club this Friday.

Mr Chamberlain said Magi-Build is unlikely to be a “saleable entity”, but there is a possibility a deed of company arrangement may be formed.

He could not be specific on what caused Magi-Build’s failure, suggesting it may have resulted because “times are tough” and jobs may not have proved as profitable as expected.

Magi-Build boss Paul Maginnity, a past NSW president of the Master Builders Association, has not returned The Border Mail’s calls.

Redundant construction manager Hilly Westra, who finished with Magi-Build on September 2, said there were only four employees when he departed.

He said he had been paid all his entitlements.

Two dual-unit blocks being built for Victoria’s Department of Health and Human Services in Wodonga have been left unfinished by Magi-Build.

Work ceased on the Beardmore and Martin street sites several weeks ago, leaving the department with four 80-per cent built units each worth $166,620.

A department spokeswoman said Magi-Build had informed DHHS it would be entering voluntary liquidation.

However, the department does not believe taxpayers will be short-changed by the delay in the units, which were due for completion in October but now won’t finished until next year.

“The department has made progressive payments to the contractor based on works completed and we do not expect the taxpayer to be out of pocket as there is sufficient funding for the project to be completed,” the spokeswoman said. 

As recently as its October meeting, Albury Council put Magi-Build on a short-list of five companies tendering for an airport terminal upgrade.

Magi-Build has constructed some of the Border’s best known buildings.

They include the Wodonga West fire station, Wodonga Gardens Retirement Estate, Albury airport terminal, the North Albury Lester and Son funeral home, Wodonga’s APCO service station and Tallangatta’s community centre.