Langford Jones is one of many high-profile building companies to go bankrupt this year. The most famous of these is construction giant Probuild, which went into administration in February. But a combination of factors has also left many small home builders on the brink of bankruptcy.
Data from credit agency Equifax showed construction bankruptcies increased more than 30 percent in the 12 months to May.
The construction sector share of those figures has grown and now represents 28 per cent of all bankruptcies in Australia. But while these numbers may sound dire, Scott Mason of Equifax says they actually represent a correction to pre-pandemic levels.
