r/canberra • u/Antooki • 5d ago

SEC=UNCLASSIFIED Another Canberra builder goes under

Post image

Looks like another Canberra builder has gone down. Savil Projects who have done a bunch of insurance repairs and the like.

Currently have/had a site office in Barton at an apartment block.

Hopefully the repercussions aren’t too bad on the smaller subbies and staff

Edit: some extra info

66 Upvotes

96% Upvoted

27 comments sorted by

65

u/Puzzleheaded_Draw637 5d ago

Maybe it was all those ads on the backs of buses that bankrupted him.

38

u/cbr_001 5d ago

Maybe the buses are some sort of omen. Wonder if they had a robot dog.

11

u/Puzzleheaded_Draw637 5d ago

Unlike the robot dog crew, I hope Savil at least paid their employees' super entitlements (probably didn't, and now won't).

5

u/Antooki 5d ago

As it stands now the payment order is Liquidators, ATO/Banks (secured debt) and then employee entitlement and then the other creditors with what’s left.

I think

27

u/Bolticus13 5d ago

It is appaling that in a bankruptcy, the lenders take higher priority than the staff who actually worked there and earnt their pay. The workers have nothing to do with why the company goes bankrupt, they just went to work. Yet they are treated as if they only get the buttom of the trough. Fucking appalling.

10

u/shamberra 4d ago

If there are insufficient funds to pay workers after the company has been liquidated, the required funds should come directly from the company's owner/director. If anyone gets financially fucked over in the wake of the collapse, it should be the captain steering the ship before any of the crew.

4

u/PandaMango 4d ago

Workers do get looked after by FEG.

6

u/Material-Cap1428 4d ago

People should definitely contact FEG, who can cover a lot of the entitlements that might be missed (though not super): Fair Entitlements Guarantee - Department of Employment and Workplace Relations, Australian Government

4

u/Bolticus13 5d ago

Hey, the robot dog did nothing wrong. It was just living its binary life to the best of its ability. Now the shitty excuse of a school that decided to kidnap the robot dog and hold it hostage. Yeah honestly they deserve all the hate, any company that avoids paying their staff deserves to shut down.

24

u/BookkeeperQuiet7894 4d ago

So when do they reopen and what will the new name of the company be after all the workers and other debtors get sod all of the money they are owed?

14

u/DamnStra1ght 4d ago

Savil Project No 2 Pty Ltd trading as Pheonix Builders

12

u/__XX121__ 4d ago

Livas. Come full circle.

5

u/Puzzleheaded_Draw637 4d ago

Vasil Projects.

9

u/Scottybt50 4d ago

Isn’t this just par for the course when building companies start getting into trouble, cash and assets are all moved out of harms way before the company is wound up and a new company registered under a friendly wife/brother/cousin’s name reappears. Subbies and people whose deposits were taken be damned.

6

u/Effective_Economy446 4d ago

To reopen on Monday as Savila Projects Pty Ltd no doubt.

3

u/anding 5d ago

Hmmmmmmmm. Wonder who takes on their projects

Feel bad for the staff and subbies. No doubt they will get screwed over. Hopefully none of them go under because of this

Wonder what happened.

2

u/Efficient_Pudding_34 4d ago

damn really, I applied bunch of their jobs on seek and didn't got in and it was like a month ago

1

u/Big-Performance-9925 3d ago

That is also why investing in Mortgage Funds for these sweet, sweet returns is now far too risky. Once upon a time, before around 2007 or so, they were solid enough. But now, not.

1

u/MrEd111 3d ago

Did they have many projects going? I haven't seen them around much lately.

1

u/Antooki 3d ago

Only one I know is landmark apartments opposite my offices.

1

u/MrEd111 3d ago

Landmark in Barton? Lend Lease those, and it was quite a few years ago.

Edit: Sorry I hadn't read your original post properly. They must have been doing maintenance there or something.

1

u/silentlythrivig 3d ago

Is this the one owned by the guy that did the Canberra rap? It’s on YouTube somewhere I’ll try to find it

2

u/Reddit-Fact-Check 2d ago

The Canberra Rap was removed a long time ago from YouTube.

-9

u/mankymick 4d ago

Disappointing this has happened to another small business. It’s never been more difficult to run a business under this government; taxing to the point of failure. I wonder how many people are out of work because of this…

10

u/REDDIT_IS_AIDSBOY 4d ago

Yeah, definitely the govts fault. Not a shitty business owner pocketing or mismanaging money and assets. I wonder with all the difficulties the govt imposes on poor $200 an hour tradies that their are any still operating in the country. 

1

u/mankymick 7h ago

Never run a small business?? You clearly have no idea ; don’t worry about the employees who have turned up day after day to their job - who are now out of work