Yet another construction company has collapsed owing over $4million in the latest example of Australia's worsening building industry crisis.

Exel Infragroup Pty Ltd, a company that until recently was the lead contractor of a multimillion dollar government project, entered liquidation on July 14.

The Victorian-based company has been appointed liquidators Petr Vrsecky and Paul Anthony Allen from insolvency firm PKF Melbourne.

Exel Infragroup owes $4.225million to 83 creditors, with liquidators hoping to return up to $350,000 to creditors by selling company assets including an oil rig.

Exel Infragroup Pty Ltd, a company that until recently was the lead contractor of a multimillion dollar government project, entered liquidation on July 14

The Victorian-based company (pictured) has been appointed liquidators Petr Vrsecky and Paul Anthony Allen from insolvency firm PKF Melbourne

'They were making significant losses over the last few years. That's essentially why the company's gone broke,' Mr Vrsecky told news.com.au.

'By the time of the company's collapse, there were only four employees left. The bulk of the creditors are subcontractors and suppliers.'

According to the group's still active website, the construction company specialised in civil construction, directional drilling and railworks.

Exel Infragroup was previously engaged to work on Victoria's Big Build - a series of road and rail infrastructure projects commissioned by the state government.

The company worked on the North East Line Upgrade at Lilliput and Balmattum in rural Victoria alongside a series of subcontractors.

Some of those subcontractors are now claiming they are owed thousands of dollars.

Synergy Traffic Management, based in Shepparton, were subcontractors to Exel Infragroup on the Big Build project.

Operations Manager Callum Phillips said that while Exel Infragroup received payment to complete the work, he is still waiting on $63,000 for his workers.

He says he's been chasing the company for the last eight months, to no avail.

The shutdown comes after two Perth-based construction companies collapsed last week, leaving dozens of home unfinished

Synergy Traffic initiated winding up proceedings against Exel Infragroup but the company went into voluntary liquidation before the matter went to court.

Exel Galaxy, which operated in conjunction with Exel Infragroup, also collapsed back in 2020 owing $5million to creditors.

The collapse is just the latest in a string of construction company shutdowns.

Last week, Perth-based construction firm Western Luxury Homes Pty Ltd was placed into liquidation, according to a notice published by ASIC.

The announcement came days after boutique builder Royal Construction and Design went into liquidation on August 8.

Western Luxury Homes, headed by director Hetem Hajdari, was based in Alexander Heights and established in 2020.

It's understood 12 homes were left incomplete when the firm folded, with signed contracts dating back to mid-2020.

Rescon Builders Pty Ltd, known as Rescon Granny Flats, went into liquidation on Friday. The company built granny flats around Sydney, the Illawarra, Central Coast and Newcastle areas (pictured, granny flat built by the company)

Clients are being urged to contact their home indemnity insurance provider, QBE Insurance, following the collapse.

'This enables homeowners to begin the process of engaging another registered builder to complete the work or managing other remedies they may be entitled to,' Building and Energy executive director Saj Abdoolakhan said.

It comes as a third builder from NSW also collapsed earlier this month.

Award-winning granny flat construction company Rescon Builders Pty Ltd, known as Rescon Granny Flats, went into liquidation on Friday.

The company, which built granny flats around Sydney, the Illawarra, Central Coast and Newcastle areas has worked on more than 500 projects since it started in 2012.