Former Chief of Collapsed Grocon Building Empire Declares Bankruptcy The bankruptcy declaration by Daniel Grollo, former executive chairman of the collapsed Grocon building empire, serves as a stark reminder of the consequences of unchecked corporate ambition.
The company's collapse left behind a trail of over $100 million in unpaid debts. Grocon was founded in Melbourne in 1948 by three generations of the Grollo family.
Their legacy includes iconic buildings such as the Eureka Tower and 101 Collins Street, but their success was short lived.