MOD Builder goes under Down Under

SmartCompanyAu reports from down under modular builder Mornington Park Homes has been placed in receivership after 32 years in business, and corporate advisory firm McGrathNicol is seeking buyers for the assets of what was once Tasmania’s leading producer of modular homes, having produced nearly 32,000 homes. Despite reports that the prefabricated market will increase through 2017, as MHProNews reported here Feb. 28, 2013, modular builder Trade Fusion of new South Wales, Australia closed its doors last Nov. The Australian Securities and Investment Commission reports of the 10,632 companies that ceased operations last year, one-fifth of them were in the construction business.

(Photo credit: tektumdailymercury–Australian modular home)

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