Parramatta. Wincrest Homes in administration

Wincrest Homes, a Parramatta-based family company has gone into voluntary liquidation, with about 100 homes under construction and owing $12 million. Bruce Gleeson, of Jones Partners, who has been appointed administrator, said Wincrest confirmed owing $6 million to its secured creditor, St George Bank, $4 million to tradespeople and contractors and a further $2 million to related parties, The Sydney Morning Herald reported. In addition to homes under construction, Wincrest is believed to have taken deposits from a further 20 customers.