NBN, Vodafone contractor goes broke
A contracting company that has provided services to nbn as well as to mobile carriers Vodafone and Optus has gone broke, owing millions of dollars to unsecured creditors and employees.
The company, Daly International, has offices in Australia and in the UK but its operations appear to have been largely in Australia.
Industry newsletter ItNews reports that its contracts included a $27.7 million project with nbn to provide fibre to multi-dwelling units in Brisbane, the Gold Coast and Western Australia. Daly also designed an NBN passive fibre network in Sydney and Melbourne, as well as site acquisition, town planning and design for the fixed wireless component of the NBN.
Earlier work included design and construction work for Vodafone Hutchison and Optus.
It is not yet clear what has led to the company’s collapse but work on the NBN project has already proven to be a poison chalice for many contracting companies, both large and small. And of course it is not only commercial creditors and shareholders who feel the pain.
Of the debt so far identified, $2.1 million is owed to employees in wages, superannuation and leave entitlements. All 80 of the company’s Australian-based staff were terminated when the Daly was put into administration last month.
Source: ItNews
