Event: Bathla Group

Major home builder Bathla Group collapses, leaving buyers in limboEmbattled home builder Bathla Group has been placed into voluntary administration, leaving customers in limbo in what it says is a “perfect storm” of circumstances, AAP reports.Founder and director Bhart Bhushan described the move to voluntary administration as an “orderly restructure of business”.“Our first thoughts are with our employees and the customers who have put their faith in us to deliver their dream of home ownership,” Bhushan said in a statement on Tuesday. double quotation markIt is my sincere hope this process can allow that to happen by working collaboratively with the administrators, our suppliers, contractors and lending partners. Bhushan said the group had confronted a perfect storm of circumstances that contributed to its struggles. These include a significant softening in sales, impacts from the changes made in the federal government’s May budget and falling confidence in key markets.He also said significant increases in construction costs absorbed by his company played a part.Allow Instagram content?This article includes content provided by Instagram. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. To view this content, click 'Allow and continue'.Key events22m agoQld parliament unveils statue of state’s first female MP45m agoOne Nation’s David Farley ‘needs to shut up’, George Christensen writes3h agoGreens senator Barbara Pocock won’t run again3h agoMajor home builder Bathla Group collapses, leaving buyers in limbo3h agoExplainer: why is Albanese ‘WA’s daddy’ this week?4h agoFacial recognition to be mandatory in NSW gaming rooms under new gambling reforms5h agoAustralia needs 5,700 new donors of O-type blood6h agoColes blames Ooshies for hurting its sales as it reports $1.09bn profit7h agoAria bars ‘wholly AI-generated tracks’ from music charts, but allows tech in ‘supporting role’8h agoJackson Pollock masterpiece Blue Poles to visit Perth9h agoSydney trains fix…