A popular family-run building business servicing NSW and the ACT has collapsed after 30 years in operation. The decision to liquidate Cubitt’s Granny Flats and Home Extensions was made on June 14 by 30 of the 373 creditors owed a total of $6.8 million. There were still more than 100 customer contracts for projects both underway and yet to be started when the business first entered voluntary administration in February.
‘Devastating’ end for company and contracts Cubitt’s called the collapse “devastating” earlier this year, when they informed their “loyal and hard-working staff” — some of which had been with the company for 25 years — that they would be out of a job. The owners, Ian Cubitt, Kim Cubitt and Kate Cubitt, had dipped into their personal assets to complete projects and honour contracts for several years before cutting their losses.
Source: News Formal (newsformal.com)
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