Clough collapse comes as cracks spread beyond construction
The failure of the contracting group comes as rising rates, cost pressures, COVID-19 supply chain hangovers and a more active ATO start to hit the business sector.
The collapse of West Australian-based, South African-owned engineering contractor Clough Group will have serious ramifications for some of Australia’s biggest infrastructure projects, including the Snowy 2.0 pumped hydro project and the much-hyped Inland Rail project.
But this is a slow-moving train crash that will come as no surprise to anyone in the contracting or insolvency sectors.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
