Axcess Demolition and Excavations to be liquidated after racking up $1.5m tax bill

A demolition contracting company in Geelong has been placed into liquidation after racking up a massive tax bill.

Axcess Demolition and Excavations has entered liquidation, owing $1.5m in tax.

A Geelong company with almost two decades’ experience in the construction industry is being liquidated after it racked up a $1.5m tax bill.

Moolap-based Axcess Demolition and Excavations was registered in 2005 according to Australian Securities and Investments Commission documents that list Chris Dimitrovski as its sole director.

Con Kokkinos of Worrells has been appointed liquidator.

Axcess owes a total of $1,528,427 to the Australian Taxation Office, according to documents prepared by Mr Kokkinos.

Mr Dimitrovski declined to comment when contacted by the Addy.

A Worrells spokeswoman said the investigation was in its preliminary stages, with a meeting of creditors scheduled for next week.

According to the Axcess’ website, it specialised in all classes of demolition, bulk excavation and site cuts.

The company is just one of the many businesses in the construction industry that has entered liquidation recently.

Axcess Demolition and Excavations has entered liquidation, owing $1.5m in tax.

Geelong Building Solutions, a construction company in Ocean Grove focused on building new residential homes, entered liquidation a fortnight ago owing nearly $900,000.

Director Aaron Anstis said the business had experienced financial difficulties since 2020.

“Around the end of 2020 and into 2021 with Covid and the fixed-price contracts and costs skyrocketing, we got into some financial difficulty and then borrowed money to try and get us through that period,” he said.

Mr Anstis said the company never got to a point where it traded insolvent because he borrowed money and used his own assets as collateral to pay trades and suppliers.

Since January this year, more than 50 construction businesses in Geelong have become insolvent.

Master Builders Victoria said unprofitable, outdated and overly complex building contracts were among the myriad issues contributing to the collapses.

A spokesman said labour shortages, material cost inflation, inefficient regulation, industrial-relations challenges and the overall increase in construction costs had crippled many.

Originally published as Axcess Demolition and Excavations to be liquidated after racking up $1.5m tax bill