Administrators will be forced to close the business if it fails to secure additional funding, revealing hundreds of staff have not been paid for weeks

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The administrators of embattled property developer Bathla Group have said the company will fold by the end of the week unless they can secure additional funding to keep it afloat.

The insolvency advisory Teneo assumed control of Bathla’s operations on 25 August after the Sydney-based construction company went into voluntary administration under the weight of almost $3.6bn in debt.

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