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South Australian building company Seven Star Construction is on the brink of collapse after being stripped of its building license leaving more than two dozen people in the lurch.
The company was based in inner-city Footscray and its staff boasted about surrounding themselves 'with a team of experts that work'.
Commonwealth Bank chief executive Matt Comyn said building companies that operated with more fixed-price contracts were particularly vulnerable as construction costs continue to soar.
Two home builders financially collapsed in the space of the four days last month leaving one family in a desperate position with an unfinished property and being unable to afford to keep renting.