SA builder Marshall Thompson Homes collapses

Another South Australian builder has gone bust with Marshall Thompson Homes closing its doors with estimated debts of $1 million.

Marshall Thompson chairman Graham Thompson said he tried to save the business, but the liquidators moved into the company’s offices yesterday.

The company has left 20 unfinished homes and dozens of creditors, with total debt estimated at $1 million.

It did not make a single sale in July and August.

Mr Thompson said the first home buyers market had dried up.

“The banks will only lend them 80 per cent, so where are they going to get the rest from?” he said.

The unfinished homes are covered by a building insurance scheme and employees will get their entitlements, but the liquidator said at this stage it is unlikely creditors will see any of their money.

Julie McIntyre’s kitchen company has been left $50,000 out of pocket, and is also owned $100,000 by the now-bust McCracken Homes.

She is calling on state and federal politicians to protect businesses like hers.

“What does the federal government do for us?” she said.

“I can tell you, small creditors, unsecured creditors, a big fat zero.

“I get annoyed when I see how much money the government gives Holden.”

A creditors meeting is expected next week.