Queensland building company Glenwood Homes looks set to go into liquidation, after going into voluntary administration with more than 40 homes in Townsville unfinished.
Last week BRI Ferrier, the administrator for the north Queensland building company, said the company owes nearly $6 million to unsecured creditors, including subcontractors.
To date the administrator has not announced whether creditors will be paid at all. They expected the company to go into liquidation unless an offer came for the company.
