Cor Cordis appointed Voluntary Administrators of Montego Homes

Sam Kaso and Shaun Matthews of restructuring advisory firm Cor Cordis were appointed Voluntary Administrators for Montego Homes Pty Ltd on Monday 15 January 2024.

Montego Homes is a construction Company offering house and land packages in Victoria with multiple projects currently in progress and a pipeline of future projects.

Given the challenges that the construction industry has faced recently including rising building costs, the directors made the decision to appoint Voluntary Administrators to assess how best to restructure the business.

Through the voluntary administration process Cor Cordis will pause construction works whilst they urgently assess the business operations and explore all options to restructure or recapitalise the businesses, including through a deed of company arrangement or a sale of business.

“We’ve commenced an urgent review of Montego Homes’ financial position and urgently seeking a buyer to restructure or recapitalise the businesses, including through a deed of company arrangement or a sale of business transaction.  We will be providing regular updates to all stakeholders as we work through the voluntary administration process”, said the Administrators.

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Media enquiries

Lidia Bufalino, National Marketing Director, lbufalino@corcordis.com.au

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Stakeholder questions

For further information in relation to the external administrations of the Montego Homes the contact details of the Administrators are set below:

Email address is montego@corcordis.com.au