Grocon game over?

Discussion in 'Property Market Economics' started by The Y-man, 20th Nov, 2020.

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  1. The Y-man

    The Y-man Moderator Staff Member

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    The Y-man, 20th Nov, 2020
    #1
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  2. RPI

    RPI SDA Provider, Town Planner, Former Property Lawyer

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    That's a big one to go.
     
    RPI, 21st Nov, 2020
    #2
  3. Scott No Mates

    Scott No Mates Well-Known Member

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    I heard that one yesterday too. Bit of a shock but it is a high risk industry on very slim margins (even though outsiders think otherwise).
     
    Scott No Mates, 21st Nov, 2020
    #3
  4. bamp

    bamp Well-Known Member

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    Surely they phoenix? Way too big to bow out altogether
     
    bamp, 21st Nov, 2020
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  5. Robert Chatsworth

    Robert Chatsworth Well-Known Member

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    Yes. One of the advantages of the current mortatum of insolvency is it gave them a little time to rejig/restructure the company.

    Its only the "legacy" construction business that has gone broke, although it is the significant part of the business. Grocon directors want to move into the Built to rent segment, and that business is fine/solvent (at the moment).
     
    Robert Chatsworth, 21st Nov, 2020
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  6. Scott No Mates

    Scott No Mates Well-Known Member

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    Girvan
    KB Hutchinson
    Stuart Bros
    Concrete Constructions
    Ralan
    etc

    Their staff move on to create the next One.
     
    Scott No Mates, 21st Nov, 2020
    #6
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  7. K974

    K974 Well-Known Member

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    Not the only one of the big boys in trouble, the profitless boom
     
    K974, 22nd Nov, 2020
    #7
  8. Bunbury

    Bunbury Well-Known Member

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    Anyone who has dealt with some of these operators over the last 10-20 years would not be surprised by the latest. When you burn all your bridges you're eventually going to get caught out. Endless enmity with clients, contractors, and employees takes you down a certain path.
     
    Last edited: 22nd Nov, 2020
    Bunbury, 22nd Nov, 2020
    #8
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  9. Just_A_Name

    Just_A_Name Well-Known Member

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    Whatever go south, it is other people's fault.
     
    Just_A_Name, 24th Nov, 2020
    #9