The founding family of Zorzi Builders have expressed their ‘deep sadness’ over the current directors placing the luxury home builder in administration.
The founding family of Zorzi Builders have expressed their ‘deep sadness’ over the current directors placing the luxury home builder in administration.
Hall Chadwick WA administrators took control of Mercedes Group – which trades as Zorzi Builders and Grandwood Homes– after the current directors called them in on Thursday.
The Zorzi family released a statement in response to the company they sold out of being placed in administration, saying they were “deeply saddened”.
“Wally and Eric Zorzi whose father, founded Zorzi builders in 1956, along with their former business partner Peter Belcastro sold their interests in the Mercedes Group trading as Zorzi Builders and Grandwood Homes as part of a management buyout led by David Reynolds in 2019,” the statement read.
“Since that time Wally, Eric and Peter have had no had no involvement in running the business or the decision making.
“However, as longstanding industry professionals with a legacy spanning 50 years, they are deeply saddened by the news that the company has been placed into administration by its directors.
“They recognise the significant impact this has on their former trades, suppliers, employees, and the company’s current clients, and they sincerely hope that all the stakeholders can work towards the best possible outcome in these challenging times.”
Zorzi Builders was founded by Corrado Zordi in the 1950s after migrating from Italy.
Administrators Richard Albarran, Cameron Shaw and Aaron Domnish will be combing through the company’s affairs in what marks the latest WA builder to run into trouble amid high construction costs and a tight labour market.
