75-year-old building firm calls in administrators
A family-owned building products company that has worked on well-known buildings including the Abedian School of Architecture at Bond University has called in administrators.
Business
Don't miss out on the headlines from Business. Followed categories will be added to My News.
A 75-year-old Brisbane building products firm whose work is seen in iconic public buildings around the state has called in administrators amid rising competition from cheap Chinese imports.
Gavin Morton, of insolvency firm Morton & Lee, was appointed administrators of Wacol-based Sharp Plywood last week. The company, which employed about 20 people, manufactured veneers and panels for kitchens, furniture, commercial fit outs, panels and doors.
But in recent years, the firm founded by Jack Sharp in 1945, has struggled against a rising tide of Chinese imports. It is not known how much the company owes creditors.
The family-operated company, now run by Jack Sharp’s son Rodney, has completed projects including the wood panelling in the Brisbane Supreme and District Court complex and the Abedian School of Architecture at Bond University.
Thomas Foods acquires 50 per cent stake in another family owned meat company
Historic $50 Brisbane car sale nets business more than $600k during COVID-19 struggles
While the majority of building materials are manufactured in Australia, China has emerged as a major source of imports in the past decade. In the last half of 2019, building products including tapware, steel, wood and glass valued at $2.7 billion were imported from China.
Originally published as 75-year-old building firm calls in administrators