Metricon Homes To Meet With Victoria Government Amid Rumours Of Financial Strife

Metricon bosses will meet with the Victorian Treasurer today, as rumours circulate the company is on brink of collapse.

The Herald Sun reports the building giant is in crisis talks with clients over financial struggles, with sales staff being instructed to increase cash flow by securing more deposits.

The rumours come days after the unexpected death to the company’s founder and chief executive, Mario Baisin.

Metricon holds $195 million of Victorian state government contracts, including a five-year deal to build and maintain public housing. The company also employs 2500 Australians and currently has around 4000 homes under construction.

Australia has been plagued with supply chain issues for some time, with experts saying the cost of building has increased by 20 per cent. 

But the Metricon execs say there is no basis to the rumours

“Metricon is a strong viable business without any solvency problem.The biggest challenge Australia faces is to get more homes built for more Australian families and as the biggest homebuilder in the country, we are the ones to deliver,”  Metricon’s acting chief executive, Peter Langfelder said.

“There is simply no basis to these rumours. Metricon is a strong viable business without any solvency problem,” he said.

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