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Calls for inquiry into SA builder collapse

AAP logoAAP 13/10/2016

The corporate watchdog should investigate the collapse of South Australian construction company Tagara Builders to restore industry confidence, Master Builders SA says.

The June 2015 collapse of Tagara left hundreds of suppliers and subcontractors $27 million out of pocket with many families also affected.

Peak body Master Builders SA has called for ASIC to look into the corporate failure, saying smaller "mum and dad" businesses need answers to regain faith in the state's building industry.

"The building industry is filled with large companies - but it is also filled by a growing number of smaller businesses operating in the commercial sphere," chief executive Ian Markos said in a statement on Thursday.

"The subcontractors affected by this collapse are the ones most in need of answers."

After the collapse, a Senate inquiry was held in Adelaide that looked at ways to protect small businesses and subcontractors amid large construction industry collapses.

But Mr Markos said it was vital that ASIC held a separate inquiry into one of the state's biggest corporate collapses.

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