Grocon companies in administration reach 87, more than doubles

In late November, 39 Grocon companies were placed in the hands of KordaMentha and a further three were added the following month.

Grocon blames its collapse on that development, alleging rival Lendlease and Crown Resorts reached a secret deal with Infrastructure NSW on building heights in 2019, protecting the rights of Crown tower – Sydney’s tallest building – to unobstructed views of the harbour. “We are advised that no further entities are expected to enter administration and that a deed of company arrangement will be proposed to include all 87 Grocon companies,” Mr Knight said.

Source: News Formal (newsformal.com)

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