Apr 16, 2019

Multifix creditors meeting set for next week

Multifix creditors meeting set for next week

A creditors’ meeting will be held on April 26 following the collapse of Mackay Ring Road subcontractors Multifix Constructions.

Morgan Lane and Nikhil Khatri of Worrells Solvency and Forensic Accountants were appointed voluntary administrators of Multifix Constructions last week.

Established since 1997, Multifix specialises in formwork, reinforcing, and concreting, and had been engaged by CPB Contractors for the Mackay Ring Road project.

CPB Contractors is part of the CIMIC Group, which declined an iQ request for comment on the Multifix issue.

Worrells said that upon their appointment the administrators reviewed the company’s financial position and determined it was not viable to continue trading.

The firm has indicated that staff were owed about $500,000, and other secured and unsecured creditors about $4.6 million, while about $800,000 is owed to the Australian Tax Office.

A spokeswoman said it was too early in the administration to say if problems with any particular contract was to blame for the financial difficulties.

The creditors’ meeting will be held at Worrells’ Brisbane office at 102 Adelaide St from 10.30am on April 26.

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