Fallout from Reed Construction folding continues with collapse of air-conditioning company

A Sydney-based air conditioning installation and servicing company has collapsed, with millions of dollars of debt accumulated following the failure of the now collapsed builder Reed Construction.

Advanced AirCon offers premium air conditioning system solutions to the residential and commercial market and it represents brands such as Actron, Mitsubishi and Panasonic.

The business, which provides services including design, sales, installation, commissioning and servicing, ran into trouble when Reed Construction collapsed in mid-2012 with debts on $182.1 million.

When Reed Construction collapsed, Brian Parker from the Construction, Forestry, Mining and Energy Union told SmartCompany up to 500 Australian small businesses working as subcontractors were “looking down the gun barrel of falling into liquidation”.