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Major national builder NPM has gone into voluntary administration with over 100 full-time employees terminated.
The NPM Group, which stands for National Projects and Maintenance, was a commercial fit-out, construction, minor works and maintenance company behind 45,000 projects across six states and territories.
It ceased operations yesterday.
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The group had 10 companies to its name across the country.
"The ongoing market pressures have made NPM's continued operation untenable, due to skilled labour shortages, inflationary pressures, interest rate rises and a commercial sector that continues to suffer from flow-on effects of (the) COVID-19 pandemic," director Daniel Afonso said in a statement.
Graeme Beattie, Christopher Darin, and Aaron Lucan of Worrells have been appointed administrators.
"The administration process is in its infancy and we are working hard to immediately establish the group's financial position, including identifying assets available for realisation and quantifying creditors' claims with the assistance of the director and the senior staff of the NPM Group," Beattie said.
"We are conscious of the impact the appointment will have on everyone involved."
