MANILA - Businessman Robbie Antonio's Revolution Precrafted said Friday it is committed to cooperate with contractors and suppliers who sought the help of authorities in resolving some allegedly questionable contracts worth P150 million.
In a statement, Antonio said the firm was unable to collect receivables after the COVID-19 pandemic affected its projects.
“Like many companies, we were not exempt from the market challenges brought about by the coronavirus pandemic that significantly affected our sales, collections and operations,” Antonio said.
At least 9 contractors and suppliers on Thursday filed a complaint before the National Bureau of Investigation claiming that they were lured into contracts by the startup that makes prefabricated homes.
The company assured stakeholders that it would cooperate with authorities and that it is "committed to expeditiously resolve its company issues," it said.
"The company sincerely assures its stakeholders that it will honor all legitimate contractual obligations with its partners and suppliers, and only ask for some time consideration to resolve its issues. In parallel, we will also work in earnest to collect what is due the company,” it added.
In a 2017 interview with ANC, Antonio said he wanted his company to become the first Filipino "unicorn" or start-up firm with a valuation of $1 billion.
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