Embattled Sydney developer Bathla could collapse by week’s end

Sydney property developer Bathla Group could fold by the end of the week unless administrators secure additional funding to keep the business operating.

Teneo, the insolvency advisory firm overseeing the company, said Bathla would be forced to close if the funding was not found. The firm assumed control of Bathla’s operations on 25 August, after the construction company entered voluntary administration.

The administrators also revealed that hundreds of staff had not been paid for weeks, adding to the pressure on the embattled developer.