Workers turned up to a new Ebert Construction site in August to find they were locked out.

Failed builder Ebert's 95 staff will learn tomorrow whether they still have jobs.

The construction company was placed into receivership on Wednesday, with estimated debts of $40 million.

PwC partner John Fisk said it was looking through workers' contracts, and expected to make a decision on Friday about whether their employment would be dissolved or handed over to another company.

Sub-contractors working on Ebert sites have been permitted to pick up their tools.

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Fisk said the workers could not work at the affected sites, but had started receiving their tools on Thursday morning.

DAVID WHITE/STUFF The Ebert Construction site on Union Street.

Fisk said bigger equipment like cranes and diggers could take more time to return to their owners, but he couldn't specify how long it would take.

On Wednesday morning workers and contractors arrived at Ebert sites around the country to find themselves locked out with no access to their tools.

Ebert was currently working on 15 projects, including the Indian High Commission's new headquarters in Wellington, the Union Green apartment development in Auckland, a unit at Middlemore Hospital and a new commercial building in Carterton.

SUPPLIED The $30m Indian High Commission which was being built by Ebert Construction when the firm went into liquidation this week.

A statement from PwC said it had been advised by Ebert's that it had a number of poorly performing projects in the Auckland region which adversely affected the company's financial position.

"Last week, the board was advised of likely substantial increases in the expected costs to complete those poorly performing projects.

"Alongside those poorly performing contracts, the company's portfolio of projects includes several well performing contracts.

"Notwithstanding this, the directors formed the view that the company could no longer continue trading given the impact of the actual and anticipated losses."

Fisk said it was "committed to doing the best we can for the staff, subcontractors and suppliers of Ebert".

DAVID WHITE/STUFF The Ebert Construction site on Union Street showing locked out workers and contractors.

"We will work closely with all parties involved with the contracts in progress to determine the best way forward."

Master Builders chief executive David Kelly said although Ebert's receivership came as a surprise, there had been growing concerns of the industry facing greater challenges in recent years.

"It's bad news for everyone, the employees, subcontractors and clients. Everyone loses out."

Kelly said some of the "worrying trends" in the industry were a combination of contractors taking on risk they did not fully understand and also a shortage of subcontractors in a "booming" industry.

"There used to be a lot of transparency in terms of contracts. But now we're seeing lengthy special conditions in contracts. These contractors are taking on liabilities they don't fully understand. For instance if a contractor falls over they're not covered at all.

"In a booming economy it's hard to get subcontractors and if you take on too much work that can have a knock on effect and snowball very quickly. Take on risk, but price it. If you don't price your risks correctly, then that's foolish."