Lloyd Group voluntary administration

Published on 31 March 2023

Construction firm, Lloyd Group, has been placed into voluntary administration with work on all current projects halted.  

Frankston City Council has four Lloyd Group projects impacted by this announcement:  

• Jubilee Park Stadium
• Healthy Futures Hub, Seaford
• Lloyd Park Senior Pavilion
• Eric Bell Pavilion

The appointed administrator, Deloitte is undertaking an urgent assessment of the business's financial position and project-by-project status. 

Council will work with all parties to ensure this process goes as smoothly as possible. Discussions with Deloitte to date have been positive and we expect to receive a progress report next week and are hopeful of a resolution within the next few weeks.

Unfortunately, the construction sector market is extremely difficult at the moment. Lloyd Group is a large and reputable organisation that has managed extensive projects such as Victoria’s school build program and our own RF Miles Pavilion.

This is a disappointing situation for Council and all involved. Due diligence checks to assess a company’s financial viability are routinely conducted as part of Council’s procurement process prior to engaging a contractor for any major construction project. Lloyd Group were deemed sound for all projects, however in the current increased inflation market conditions, issues such as we are now experiencing are unforeseeable. 

Council officers, the CEO and Mayor are reaching out to all sporting and community groups affected by the situation and will keep them updated during this period.