General News
3 August, 2023
Clients angry after builder enters administration
Wayne's dream home remains just that.
Ballarat-based builder Bond Homes has entered administration - leaving a trail of angry customers.
Admikiri P/L - trading as Bond - entered voluntary administration on Monday, July 31, after almost 35 years of building transportable homes including granny flats, bungalows and park cabins.
Now Wayne Cockburn is determined it will not destroy his dream of moving from Keilor to a 1.6ha property on the picturesque outskirts of Great Western.
The Ballarat worker paid a deposit in February 2022 - and then another amount in November.
"We put stumps on the house and that's as far as it got," Mr Cockburn said.
"We've been chasing these guys for quite some time - calls, emails, everything we can.
"Late last year a lot of housing companies were starting to collapse.
"We were told Bond has stopped taking on new customers - and they seemed confident at that point they could get the home done.
"There were never any concerns that it wasn't going to happen.
"The problem I have now is that even if we go to another builder, we've put stumps in the ground for a particular type of house."Wayne Cockburn
"Part of the reason we went with Bond Homes is that in the early days dealing with them was pleasant. They seemed good."
Mr Cockburn wanted to hear from other affected clients - and has set up a Facebook group.
"The problem I have now is that even if we go to another builder, we've put stumps in the ground for a particular type of house," he said.
"If we have to bring construction equipment in to remove the stumps, then it'll be an extra cost.
"It's also likely that we'll have to go through the planning and building application process again with Northern Grampians Shire Council."
Mr Cockburn said if a company was facing difficulty, he believed it was best to communicate with clients early.
"Where were the phone calls to customers who had injected money into this company?," he said.
"If they were in trouble, where was that phone call?
"Where was the communication?
"Please take customers' calls. Things could have turned out differently."
Mr Cockburn said was hurt seeing recent pictures of Bond Homes staff celebrating on social media.
"It feels really bad to see that,' he said.
"It's disingenuous."
Administrators from the Ballarat office of insolvency and liquidation accountants Worrells said the Ballarat Ring Road-based operation employed around 20 people full-time and had 16 homes under construction.
"Due to the entity's financial position the difficult decision to cease trading immediately was made by Worrels in conjunction with the directors," administrator Nathan Deppeler said.
"The director appointed the administrators following ongoing cash flow pressures, increasing supply costs and general downturn in the industry.
"(We are still in) the early stages of the administration and are working to immediately establish the company's financial position, including identifying assets available for realisation and quantifying creditors claims.
"We're conscious and understanding of the impact the appointment will have on everyone involved, particularly employees and customers."
Creditors are being urged to send any proof-of-debt to www.worrells.net.au
Mr Deppeler said eligible employees owed money could also get help through the Federal Government's Fair Entitlements Guarantee website.
And Mr Cockburn's advice to others?
"Don't be afraid to ask the hard questions. The next building company I work with, I'll be asking to see financials straight away," he said.
"I'll want to know how solvent that company is.
"If there is any element of doubt at all, I'll walk out the door.
"We feel absolutely gutted because we had a good feeling dealing with these guys.
"I'm gobsmacked it ended up like this."