“Unfortunately, we are seeing too many companies not being able to balance their books – in particular regarding debt and their workforce are left paying the price.

“We know members of the workforce have asked for guarantees directly and have not received them.

“Several workers have now raised concerns with us and we’ve been trying to get a better handle on what the situation is and making sure the company can service those entitlements.

“Hundreds of our members work for AGC, it’s one of our bigger work bases, and we want to make sure those entitlements are protected and that they’re not fighting for them alongside other creditors.”

AusGroup’s financial woes were laid bare in its latest financial report, with the company posting a loss of more than $31.6 million.

In the weeks that followed, AusGroup’s share price plummeted to a record low before it suspended trading on the Singaporean Stock Exchange.

In a statement to the market, AusGroup told shareholders that while the company was advancing a potential sale of assets or businesses of the group behind closed doors, there were no assurances the sale would materialise.

It followed the departure of two senior board members, including its managing director of more than five years Shane Kimpton, who will remain chief executive, and chief financial officer Christian Johnstone.

In June, AusGroup sold off its 3.1-hectare Kwinana Beach facility as part of a $16.2 million sale-and-leaseback agreement, with the proceeds used to bolster working capital.

The company attributed much of its loss to a non-payment under the East Rockingham waste-to-energy project and the slowing of activity at its port businesses in the Northern Territory.

In the report, AusGroup conceded it had been hit hard by supply chain issues, labour shortages and skyrocketing costs, which were having a major impact on its cost base and project margins.

AGC has been contacted for comment.

AGC was founded in 1988, with operations in WA, the Northern Territory and Victoria.

Since then, it has worked on a swathe of projects, including First Quantum Minerals’ Ravensthorpe Nickel Mine and Shell’s Prelude FLNG facility.

The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. Sign up to get it every weekday morning.