Christchurch residential construction company Select Building has gone into liquidation with a total estimated shortfall to creditors of $329,500.
That includes about $200,000 owed to Inland Revenue (IRD), which has started legal recovery action, while $10,000 in staff wages and holiday pay is in arrears.
Select Building’s demise follows a long line of building firms folding under business challenges.
The company was placed in liquidation on July 3 with Insolvency Matters’ Brenton Hunt appointed the liquidator.
In his first liquidators’ report released on July 8, the house construction business operating in Canterbury was found to be insolvent.
The Companies Register records Stephen Brett as the sole shareholder and…