Shape Construction, a Christchurch-modular home building company, has gone into liquidation, leaving behind an estimated $1 million debt to creditors.
The company, which ceased trading in April, was placed into liquidation on 2 May, with Brenton Hunt of Insolvency Matters Limited appointed as liquidator.
According to the liquidator’s first report, the company, established in 2012, succumbed to mounting financial pressures exacerbated by the Covid-19 pandemic.
Director Toby Van T Veen highlighted that rapid price escalations made several projects financially unviable, while ongoing project issues drained working capital.
Source: Instagram
A legal dispute with a customer over an unfinished building project further compounded the…
