Rocky home builder falls victim to tough times
HOTONDO Homes closed its doors indefinitely this morning becoming the latest victim of the resource downturn crippling Central Queensland's building industry.
Owners Brett and Linda Louttit had serviced CQ for 30 years and were renowned for their "quality and professionalism".
The Morning Bulletin understands the Rockhampton franchise went into voluntary liquidation this morning.
EC Credit Control debt creditor Craig Carrington (pictured) revealed today he was approached by two subcontractors who said they were forced into receivership.
"They were directly linked to Hotondo Homes and were asking me for advice on what to do," Craig said. "They said they were placed into receivership."
The Hotondo Homes premise in Kawana was locked up and a note saying "sorry we are closed" was left on the window.
Master Builders general manager Dennis Bryant said he wouldn't discuss any details about the Hotondo Homes receivership but said the industry continued to struggle in extremely challenging conditions.
"It is tough times and the problem for everybody is that if there is no building work ahead of you, then your cash flow will dry up and then your ability to service debt goes out the window," Mr Bryant said.
"And that is the problem for a lot of people in CQ at the moment.
"People are quietly confident about the future but without the cash in your back pocket it is very difficult.
"CQ has experienced three years of unprecedented down turn which has taken us to lows we have never seen before. And there are casualties."
Bryant could not speak higher of the Louttits as both workers and people.
"If I was looking for a quality builder and someone I could trust I really would go with them. He is one of those people that just tried hard for everybody," he applauded.
"His workmanship was first class and they always put others first. He is just a victim of the current downturn, like a few others."
The demise of Hotondo Homes follows in the footsteps of Ted Price Homes and Meldavaly Homes in recent years.