Australian scaffolding group enters administration with over 650 jobs ...
More than 650 jobs are at risk after companies linked to scaffolding supplier Waco Kwikform entered administration across Australia and New Zealand.
scaffmag.comHere’s the latest I can confirm about Waco Australasia (Australia) and any related financial troubles:
- Waco Kwikform, the scaffolding and formwork arm of the Waco Australasia division, has entered voluntary administration, putting hundreds of jobs at risk. Administrators from McGrathNicol were appointed to oversee the process, while operations continued to support ongoing projects and potential sale processes [result summaries from multiple outlets, including OBNews and Express/Scaffold-focused coverage]. Cite: OBNews report on administration and McGrathNicol involvement, Express coverage of the administration and job risk, ScaffMag summary of the administration and 650+ jobs at stake.[1][3][9]
- The move appears tied to broader financial pressures within the Waco International Group, with recent accounts showing revenue around A$148 million and a loss exceeding A$10 million, a significant swing from the prior year’s profit. This financial context is echoed across several reports announcing the administration decision,,,.[3][7][9][1]
- It’s important to note that other divisions of the Waco International Group in Australia and New Zealand remain unaffected in initial reporting, suggesting the administration is specific to Kwikform and certain associated entities,,.[5][7][1]
What this means for you
- If you’re a contractor or supplier, expect potential delays or changes to project supply as administrators assess options to maximize value for creditors. Several articles emphasize that while operations continue, the ultimate outcome depends on sale processes and market conditions,,.[9][1][5]
- If you’re an employee or jobseeker in the region, prepare for possible restructuring or workforce reductions, as indicated by the reported risk to 650+ roles,.[3][9]
- For investors or creditors, monitor official statements from McGrathNicol and Waco Australasia leadership for updates on sales processes, asset realisations, and potential restructuring options,.[1][5]
Would you like a concise timeline of the events and the key entities involved, or a short briefing suitable for a meeting with stakeholders? I can also pull a quick one-page summary with the latest figures and contact points if you specify the audience. Citations: OBNews, Express UK coverage, ScaffMag summary.[9][1][3]