Workers and suppliers have walked off Raptis Group’s Southport Central site today following the appointment of receivers to the several subsidiaries debt-laden company.  The walk-off today follows similar action from contractors at the Group’s Hilton Surfers Paradise construction site.

Over the past few weeks there have been concerns about Raptis Group’s ability to service in excess of $700m worth of debts.  At this stage, management have requested that shares be suspended from trading for two days in anticipation of a refinancing arrangement.

Tags: Future Development, gold coast, news, property, Raptis Group, real estate, Southport, Southport Central

This entry was posted on Wednesday, September 10th, 2008 at 4:14 pm and is filed under Future Development, Raptis Group, Southport, Southport Central. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.