Liquidators appointed to Lanskey Constructions Qld Pty Ltd

Melbourne Cup winner Paul Lanskey has appointed liquidators to one of the Queensland construction companies he founded.

Liquidators have been appointed to Lanskey Constructions Qld Pty Ltd, part of the giant Brisbane building group with operations across Australia and New Zealand.

Ben Campbell and John Park, of FTI Consulting, were appointed by directors to wind up the company on Monday but said the liquidation did not impact other entities in the Lanskey Construction Group.

“The liquidators will seek to manage the affairs of the company in a manner which maximises the outcome for its creditors,” FTI said in a statement. “There are currently no staff directly employed by the company. Creditors of Lanskey Constructions Qld will be updated in due course.”

Lanskey, founded in 1986 by Paul Lanskey and Ross Williams, is involved in large commercial projects across Australasia with offices in Brisbane, Sydney, Melbourne, Perth and Auckland. Lanskey Construction Qld held a category 5 licence from the Queensland Building and Construction Commission (QBCC) with allowable annual turnover of $120m. That licence was suspended last week for failure to failure to meet Minimum Financial Requirements.

The building industry has been hit by a perfect storm of labour shortages and material price hikes in the past 12 months that has seen the demise of major builders including Probuild, Condev, Privium Homes, and Pivotal Homes.

Lanskey had worked on supermarket, retail and restaurant developments for some of the nation’s biggest brands including Woolworths, Coles, Starbucks, A-Mart and Myer.

According to the latest financial report lodged with ASIC, the parent company Lanskey Constructions Pty Ltd made loss of $218,000 on revenue of $139.7m in the 12 months to the end of June last year. That compared to a profit of $177,000 on revenue of $134.9m the previous year. The group employs 111 people.

As well as his construction business Mr Lanskey is a horse breeder and part owner of 2019’s Melbourne Cup winner Vow and Declare. Comment has been sought from Mr Lanskey.