Former chief of collapsed Grocon building empire declares bankruptcy
Updated ,first published
Daniel Grollo, the former chairman of the collapsed Grocon construction empire, which owes more than $100 million to creditors, has declared bankruptcy.
Grollo filed for bankruptcy with the Australian Financial Security Authority in March.
Founded in Melbourne in 1948 and run by three generations of the Grollo family, the construction empire was behind some of Melbourne’s most famous buildings, including the Eureka Tower and 101 Collins Street.
Grocon was placed into administration in December 2020 due to debts of approximately $104 million; Grollo blamed the collapse of the construction giant on a $270 million legal dispute with Infrastructure NSW over the Central Barangaroo project in Sydney.
The Barangaroo stoush was resolved following a parliamentary inquiry in NSW in 2023, according to the Australian Financial Review.
Grollo has been contacted for comment.
A.At the time of its collapse, the Australian Taxation Office was Grocon’s largest creditor, and Grocon companies were owed $13.7 million in GST payments.
When contacted on Sunday, an Australian Taxation Office spokesman said it did not comment on individual matters.
Australian Securities and Investments Commission documents show Grollo’s collapse coincided with his resignation as a director of more than 100 companies.
PKF partner Brad Tonks is on the bankruptcy trustee and did not respond to a request for comment.
More to come.
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