Skyfield Homes collapses: Gold Coast homebuilder goes bankrupt, leaving unfinished homes and $1.5 million in debt

Another construction company has gone bankrupt, leaving behind nearly 40 unfinished homes and debts of about $1.5 million.

Skyfield Homes, located on the Gold Coast, became the latest construction company to come into administration just weeks ago.

The company has construction sites in Brisbane, Nerang, Helensvale and Hope Island.

It is understood that 38 homes remain to be completed, while the company has accrued debts of more than $1.5 million.

Michael Caspaney of Menzies Advisory was appointed as administrator on Monday to take over the company's finances.

Tradies working at the company's construction sites across the Gold Coast failed to show up and the company's website and social media have been taken down.

Subcontractors working for the company remained confused as to why they were asked to complete subcontractor forms related to an associated company Focus Living, according to reports from the Gold Coast Bulletin

Skyfield Homes has shares in Focus Living and both companies are led by Dazhi Wang.

Skyfield's building permit was suspended for a period of two months last year after the company failed to make several payments.

The license was worth between $12 million and $30 million and showed Skyfield had registered 25 jobs expected to generate more than $17 million in revenue over the 2021-2022 period.

Nearly 40 homes (pictured) remain unfinished and the company has accrued debts of more than $1.5 million

Skyfield's planning permission was suspended for a period of two months last year (stock image of homes in Queensland)

However, the number of jobs the company had to complete dropped dramatically to just four in the 2022-2023 period worth $4.1 million.

There was no candidate for the company's license on Wednesday.

Daily Mail Australia has contacted Skyfield Homes for comment.

More to come