‘It’s a nightmare’: families left stranded after building company goes bust
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The sudden collapse of a well-known building company in South Australia has left many homeowners in an unexpected and difficult situation.
What started as a trusted partnership in creating dream homes quickly turned into a nightmare for several families.
As the dust settles, questions about accountability, financial recovery, and unfinished projects continue to loom large.
JAC Homes, a South Australian building company, has gone into liquidation, leaving multiple homeowners in a state of uncertainty.
Documents filed with the Australian Securities and Investments Commission revealed the company’s liquidation earlier this week.
Oracle Insolvency Services was appointed as liquidators for JAC Homes, which had been operating for 30 years in the Murray Bridge, Strathalbyn, and Coorong regions.
The liquidation leaves clients unsure whether they will recover any of the funds already paid, as assets are sold off to pay outstanding debts.
On their website, the owner of JAC Homes shared that the collapse of the company had taken a toll on their personal well-being.
'After many years of proudly serving our clients and building homes with dedication and care, we have made the difficult decision to cease operations,' the owner wrote.
'Ongoing challenges and circumstances have significantly impacted our ability to continue operating, and the resulting stress has affected both the business and my personal well-being.'
'I want to sincerely thank our clients, subcontractors, suppliers, and partners who have supported JAC Homes throughout our journey. Your trust and collaboration have meant the world to us, and I am deeply grateful for the opportunity to work with so many wonderful people over the years.'
'Thank you again for your understanding and support.'
The recent collapse of JAC Homes is part of a wider trend, with hundreds of building companies across Australia folding due to rising material and labour costs.
Some clients had already begun to express frustration over unfinished homes and unresolved building defects prior to the company’s closure.
Ahmed Tayba, 32, and his partner Kelly, first homeowners, moved into their JAC home last year, only to find it riddled with problems that they estimated would cost $50,000 to repair.
'It’s a nightmare, it makes you not want to do it again,' Mr Tayba said.
Issues included a lack of a garage door and driveway, damaged bricks, cracked tiles, gaps in the walls, and missing insulation.
The couple struggled to find contractors willing to take on the repair work, as they 'don’t want to touch another builder’s home.'
Another customer, Simon Wilden, also faced difficulties, including a missing driveway and fences, as well as an unconnected rainwater tank in the backyard.
His family had to endure repeated delays, and he had 'chased the site supervisor for weeks' after their moving date was continuously postponed.
At the time of liquidation, JAC Homes was understood to have around 10 homes still under construction.
Could stronger regulations and protections for homeowners be the key, or is the current system enough? Share your thoughts in the comments below.
What started as a trusted partnership in creating dream homes quickly turned into a nightmare for several families.
As the dust settles, questions about accountability, financial recovery, and unfinished projects continue to loom large.
JAC Homes, a South Australian building company, has gone into liquidation, leaving multiple homeowners in a state of uncertainty.
Documents filed with the Australian Securities and Investments Commission revealed the company’s liquidation earlier this week.
Oracle Insolvency Services was appointed as liquidators for JAC Homes, which had been operating for 30 years in the Murray Bridge, Strathalbyn, and Coorong regions.
The liquidation leaves clients unsure whether they will recover any of the funds already paid, as assets are sold off to pay outstanding debts.
On their website, the owner of JAC Homes shared that the collapse of the company had taken a toll on their personal well-being.
'After many years of proudly serving our clients and building homes with dedication and care, we have made the difficult decision to cease operations,' the owner wrote.
'Ongoing challenges and circumstances have significantly impacted our ability to continue operating, and the resulting stress has affected both the business and my personal well-being.'
'I want to sincerely thank our clients, subcontractors, suppliers, and partners who have supported JAC Homes throughout our journey. Your trust and collaboration have meant the world to us, and I am deeply grateful for the opportunity to work with so many wonderful people over the years.'
'Thank you again for your understanding and support.'
The recent collapse of JAC Homes is part of a wider trend, with hundreds of building companies across Australia folding due to rising material and labour costs.
Some clients had already begun to express frustration over unfinished homes and unresolved building defects prior to the company’s closure.
Ahmed Tayba, 32, and his partner Kelly, first homeowners, moved into their JAC home last year, only to find it riddled with problems that they estimated would cost $50,000 to repair.
'It’s a nightmare, it makes you not want to do it again,' Mr Tayba said.
Issues included a lack of a garage door and driveway, damaged bricks, cracked tiles, gaps in the walls, and missing insulation.
The couple struggled to find contractors willing to take on the repair work, as they 'don’t want to touch another builder’s home.'
Another customer, Simon Wilden, also faced difficulties, including a missing driveway and fences, as well as an unconnected rainwater tank in the backyard.
His family had to endure repeated delays, and he had 'chased the site supervisor for weeks' after their moving date was continuously postponed.
At the time of liquidation, JAC Homes was understood to have around 10 homes still under construction.
Could stronger regulations and protections for homeowners be the key, or is the current system enough? Share your thoughts in the comments below.
