A 32-year-old Napier company has gone into voluntary liquidation with the loss of 10 jobs, missing out on a dramatic recovery in the Hawke’s Bay construction sector.
John Managh & Associates’ first liquidators report for industrial electrical company SAE Ltd said the breakdown of the working relationship between directors “had an unfortunate effect on the company’s performance”.
Leading up to the liquidation many creditors withdrew credit with many of its suppliers, making work on hand difficult to complete, the report said.
SAE’s data and telecommunications division partnered with the Ministry of…
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