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More than 200 staff stood down at collapsed developer Bathla
After a weekend of crisis talks, administrators reached a short-term deal but confirmed construction on some developments in Sydney would be suspended.
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smh.com.au
‘Literally no cash’: Failed developer Bathla owes $3.4b as debts continue to rise
Construction on the company’s projects will grind to a halt if funding is not secured by Monday, administrators told a meeting of creditors on Friday.
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afr.com
Bathla administrators get short-term cash as 200 staff stood down
Teneo has secured limited-time loans to keep the business running to the end of this month, but hundreds of workers are losing their jobs.
