Midea Group which is in a head on fight at IFA 2026 with arch rival Haier have not said how much exposure the Melbourne based Residential Group now operating as Midea Reasidentia has to the collapse of the Bathla construction group Group who gorged itself on more than $3.6bn of private credit funding with their project managers and kitchen suppliers, ordering cooking appliances from a multitude of brands and distributors prior to the collapse.

The Sydney based developer also took advantage of second mortgages, some allegedly in an off-the-books scheme.

The size of these alleged debts is unknown, but Teneo administrators are combing through Bathla’s books as they prepare to decide whether to place the besieged developer into liquidation a move that is set to impact insurance Companies to the appliance industry.

This week Midea one of the largest appliance manufacturers in the world completed its acquisition of shares in Residentia Group a move that is believed to have saved the cash strapped business, who transferred debt with Midea for a 51% share of Residentia who manufacture house brand products such as Omega appliances.

Midea Group now holds a majority of shares in Residentia Group with the two home appliances businesses set to trade as ‘Midea Residentia Australia.

Management claim both companies will be integrated progressively, with business continuity, service quality and effective support for retail and trade partners remaining key priorities throughout the process.

“The joint venture reflects Midea’s long-term commitment to this market and to supporting the evolution of Australia’s home appliance industry. It provides a platform to respond more effectively to Australian consumer needs and deliver more local innovations, while deepening cooperation with business partners to support the sustainable long-term growth for both Midea and its partners.”