GCB Constructions collapse: North Coast subbies, suppliers say they’re owed millions of dollars

Dozens of subcontractors, suppliers and lenders in northern NSW say they have been left in the lurch by the collapse of major builder GCB Constructions. See the list. 

GCB Constructions director Trent Clark.

More than 50 subcontractors, suppliers and lenders across the North Coast say they have been left about $3.25 million out of pocket by the collapse of a major Gold Coast builder.

In total, 55 creditors from the region will be battling for what’s owed to them by GCB Constructions.

Initial estimates have found the company’s ordinary unsecured creditors total $17,384,432 across the country.

Claims range from a few hundreds dollars to a few million, with small and medium trades businesses among the hardest hit.

Some family owned northern NSW businesses are owed six-figure sums.

At the first meeting of creditors, administrators said initial estimates showed more than $5.2m in taxes and more than $1.7m in superannuation and other staff entitlements outstanding.

Administrator David Stimpson of SV Partners has recommended GCB be tipped into liquidation as “the only viable option”.

Businesses across the North Coast and Mid-North Coast say they have been impacted, from the Tweed to Coffs Harbour.

• Ballina: 14 creditors claiming a total of $1,252,967.
• Clarence: 11 creditors claiming a total of $507,733.
• Evans Head: Two creditors claiming a total of $532,639.
• Byron Bay: Two creditors claiming a total of $1,979.71.
• Tweed Heads: 16 creditors claiming a total of $533,241.14.
• Lismore: Six creditors claiming a total of $416,131.15
• Coffs Harbour/Mid-North Coast: Four creditors claiming a total of $10,416.40

Mr Stimpson, in a report to creditors, said amounts listed as owed by and owing to GCB in the minutes of the first meeting had not been finalised.

GCB went into voluntary administration on July 24, leaving a major Clarence development in limbo, with the site officially shut down until a new builder can take over.

Uniting Yamba Road development artist impression

Four Clarence Valley construction businesses working on the 50-apartment Uniting Yamba Road development — East Coast Access, Grafton’s Nat Sewell Concreting, Townsend’s Corbett Earthmoving and Stowe Electrical — have lodged debt claims with administrators.

Outstanding contractor claims sit at $1,317,264 for the Uniting Yamba project while the developer Uniting Care claims it will suffer a loss of $16,357,548.

Mr Stimpson stated developer losses on projects were unsubstantiated and could not realistically be verified until projects are complete.

Other North Coast projects impacted include Wategos Byron Bay.

GCB director Trent Clark disputes claims by project developers and is “compiling documentation to substantiate those disputes”.

GOOD LIVING: The view of the proposed development from Yamba road.

Among the claims made against GCB is more than $4.8m sought by companies related to GCB and/or directed by its sole director Mr Clark.

GCB, which has also traded as Greg Clark Constructions in Lismore, has been operating in the North Coast region for more than three decades.

According to Mr Stimpson, there has been “numerous transactions between GCB and the remainder of the Clark Group – including the director and his parents personally”.

“My investigation of (GCB’s) financials from 1 July 2022 to 26 July 2023 show that the Clark Group has injected a net amount of $3.4m into the Company during that period,” Mr Stimpson stated.

A file photo of Jenny and Greg Clark of Greg Clark Constructions in Lismore. Picture: Mireille Merlet-Shaw

This $3.4 million injection was made up of $2,640,000 by Greg Clark Building Pty Ltd and $700,000 by Greg and Jenny Clark’s Superannuation Fund

Entities sharing a PO box address in Lismore connected to GCB Construction and Trent Clark’s family have claimed a total of ($2.8 million) through the liquidation.

These related parties include four people: Trent Clarke, Greg and Jennifer Clark – Trent’s parents – and Claire Ramsden.

Related parties also include Greg Clarke Building – the company Trent Clarke’s father started in Lismore in the 80s has claimed $1.6 million in the liquidation in debts.