Iconic QLD builder insolvent after 50 years

The iconic Queensland construction company, Altec the Spacemakers, has entered voluntary administration, bringing an end to more than five decades in business designing and building patios, carports and outdoor structures across the state.

Founded in 1974 and made famous by its long-running “Good Night Al, Good Night Tec” ads, the company was placed into administration following ongoing cashflow pressures and a lack of working capital, administrators confirmed.

Joint administrators were appointed this week and will continue trading the business while options are assessed, including a potential sale of Altec’s operations and assets. Existing customer installations are expected to proceed while the review is underway.

The collapse highlights the ongoing strain across the construction industry, where rising costs, delayed payments and uncertainty around client funds continue to put pressure on builders - even those with long track records and strong pipelines.

At Witzer, we see this pattern far too often. Many builder insolvencies are not caused by a lack of work, but through inconsistent, unstable cashflow caused by a lack of trust between builders and clients. Witzer is designed to solve this problem by allowing builders and clients to securely commit funds upfront, approve work in stages, and release payments only when milestones are met.

In an industry where one delayed payment can tip a business over, tools that provide certainty, transparency and protection are no longer a “nice to have” - they’re essential.