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Cloudy outlook for solar contractor as RCR sinks

AUSTRALIAN engineering and services firm RCR Tomlinson has called in administrators McGrathNicol after it failed to secure additional funding following cost blow-outs on its wide array of solar projects and apparently lost the backing not only of its lenders but key shareholders as its share price cratered.

Haydn Black
Lawsuit-plagued concern calls in administrators after lenders baulk at further support

Lawsuit-plagued concern calls in administrators after lenders baulk at further support

The company was understood to be seeking additional funds from its lending syndicate, led by the Commonwealth Bank of Australia, just weeks after an emergency A$100 million capital raising  - and it seems...

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