The residential construction sector is under pressure. Photo / file
Creditors of an insolvent Canterbury house-building and renovation business have been projected to lose more than $1 million after the company went under.
ACC, a council, telco, an energy provider, a roofing business, building material suppliers, plumbing businesses, scaffolders and Inland Revenue want money from the company, which blamed trouble getting materials and consents as well as Covid for the failure.
Brenton Hunt of Insolvency Matters in Christchurch estimated David Magill Builders 2017 would end up owing secured and unsecured creditors $1,006,500, of which $800,000 would be owed to unsecured creditors.
The company built houses and did renovations in the Christ…
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