Troubled builder Nicheliving name disappears from Newcastle Street
Signage has been removed from the Perth headquarters of troubled builder Nicheliving, a day after it appointed voluntary administrators to manage mounting debts.
Stickers were peeled off, signs and other furniture thrown into a skip bin outside the Newcastle Street office that has been the scene of protests from customers left with unfinished homes.
The State Government launched a $40 million bailout in October, so homebuyers could access home indemnity insurance payouts of up to $200,000 each.
Nicheliving and directors Ronnie Michel-Elhaj and Paul Bitdorf were banned from holding a building licence for ten years, after complaints about 200 homes were unfinished and trade bills unpaid.
At a hearing in August, the State Administrative Tribunal was told the builder’s debts totalled $76 million, including a $7 million tax bill.
In a statement on the company’s website, Nicheliving said its property development and real estate divisions “continue to operate as usual” and are not impacted by the restructure.
But on Friday morning, the troubled brand’s name was being scraped off.
Nicheliving declined to comment.
Camera IconNicheliving sign being removed. Credit: Riley Churchman/The West Australian
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