Cubitt’s Granny Flats and Home Extensions has entered voluntary administration.
The building company, which had been operating for 30 years in NSW and the ACT, announced on Tuesday they had made the ‘devastating decision’.
It is believed Cubitt’s has collapsed due to the tough economic climate and is urgently seeking a new buyer.
Earlier on Tuesday, staff were told in a meeting the company was on its last legs.
‘We informed our loyal and hardworking staff in person where possible and remotely via video, some of whom have been with us for more than 25 years, of our decision,’ a company statement said.
Cubitt’s Granny Flats and Home Extensions has become another victim to the economic climate, with it announcing Tuesday they had gone into voluntary administration (pictured a Cubitt design)
As reported by news.com.au, the meeting was described as ‘very emotional’ and sad.
insolvency firm RSM Australia Partners’ Richard Stone and Brett Lord have been appointed as administrators.
RSM released a…