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Liquidators appointed to collapsed Victorian-based building firm Langford Jones Homes have advised more than 400 creditors that there are presently insufficient assets to pay any money to the more than $20 million in creditors.
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Oracle Platinum Homes' liquidation follows a string of construction companies going under, including Langford Jones Homes, Probuild, PlanBuild, BA Murphy, Privium Homes and several others around.
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Langford Jones Homes had around 65 building developments at various stages of completion, and more than 250 creditors. View gallery Victorian firms Wulfrun Construction, Westernpoint Construction.
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After witnessing four decades of boom-to-bust cycles in Australia's residential property industry, experienced Gold Coast developer Soheil Abedian puts the construction industry's current woes down to one simple reason: greed.
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Family-owned Langford Jones Homes is in liquidation, owing 250 creditors more than $10 million. The builder had projects in Melbourne's bayside and south-east suburbs and on Phillip Island. Construction businesses around the country are under stress. Paul Jeffers
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Langford Jones Homes has become Victoria's latest building company to collapse, as rising costs and supply chain pressures take a toll. More on: VIC Industry Trusted and independent source of local, national and world news. In-depth analysis, business, sport, weather and more.
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Latest News Finding Out How Much Your Property is Worth Langford & Jones December 15, 2023 Determining the value of your property is a critical step in the Australian real estate market. Whether you are looking to sell, refinance, or simply understand your investment, a Sydney property valuation is key. Understanding Property Valuation
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1 of 6 Last EvryThingIsNormal 16/05/2021 Hi all, We have seen a few of the Langford Jones homes builds around the area, and wondering if anyone has any dealings with them? Any concerns (significant) We are thinking about going with them as they seem to be more customer focused compared to the big ones (M, PD, etc) Thanks all Jerry Reply Vek Rai
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NCA NewsWire More from Business ASX falls in final session of 2023 ASX200 closes in on record high A Victorian builder of almost 50 years has entered liquidation, owing creditors more than $10 million. Family-owned Langford Jones Homes, which builds homes in Melbourne's bayside, southeast and Phillip Island, ceased trading last Thursday.
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Langford Jones Homes is the latest to join a growing list of failed building firms as rising costs for construction materials and the ongoing supply chain crisis sparked from the Covid-19 pandemic coupled with locked-in price contracts have driven many to collapse. Stream more business news live & on demand with Flash. 25+ news channels in 1 place.
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The legacy of Langford & Jones began with two visionary partners, each bringing their distinct prowess in property valuation and a shared commitment to offering unmatched services. Today, we stand not just on their expertise, but on the foundation of countless successful valuations, client testimonies, and a reputation that precedes us in Melbourne's real estate circles.
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At least four other construction companies collapsed over the past week, including Wulfrun Constructions and Langford Jones Homes. The latter had 65 unfinished homes and owed at least $10 million. The crisis comes as a result of fixe priced contracts, where builders are having to take in the rising cost of materials.
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Langford Jones Homes is a family owned and operated company and the housing industry leader for Phillip Island, South Gippsland, Westernport Bay and the Mornington Peninsula. We've been a member of the Housing Industry Association since 1975, and have built extensively throughout coastal Victoria and Metropolitan Melbourne for over 35 years.
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6 min read August 29, 2022 - 12:59PM EXCLUSIVE Homeowners from a building company that collapsed last month owing $23 million have been dealt another devastating blow. In a creditor's report released last week and obtained by news.com.au, the appointed liquidators have revealed they are pursuing customers for money.
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The only current director of the company, Bruce Langford-Jones, told news.com.au the family had poured $14 million into the now-defunct business including all personal assets and that he was "devastated" by the company collapse and he is facing bankruptcy. Sam was contacted for comment.