Administrator appointed as Central Coast builder JBP Construction goes into liquidation for the second time

JBP Point Frederick Vicinit

JBP Construction, the builders behind 3 multimillion-dollar apartment projects including Viciniti, located at Point Frederick on the Central Coast has had a colourful past. It would seem that JBP Construction first went into administration on the 28 June 2013. Further details can be found on the ASIC website https://insolvencynotices.asic.gov.au.

Just days ago, on the 16 January 2019, JBP Holdings Pty Ltd issued a Notification of Resolution Winding Up The Company (205M) and an external administrator appointed. Further details here on this

It is unknown exactly what went wrong to cause the quick demise of JBP Construction apart from running out of money. Considering the Viciniti launch night was only on March 23, 2018 where nearly 50% of all apartments were sold on the night. Under 10 months later and the dream has gone for many families and investors.

JBP Point Frederick Vicinit

Administration: 28 June 2013
Company: JBP CONSTRUCTION PTY LTD
ACN: 144 979 297
Status: Administrator Appointed
Registration Date: 1 July 2010

Administration: 16 January 2019
Company: JBP Holdings Pty Ltd
ACN: 164 805 127
Status: Administrator Appointed
Registration Date: 15 July 2013

JBP Constructions Administration 2013

Author’s Bio
Chet Carter is an IT Professional of 22 years, but has worked with a range of businesses giving him in-depth understanding of many different industries. Chet Carter is a business owner but shares his knowledge and experience through posts like these.

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