A Christchurch painting and maintenance contractor has gone into liquidation owing creditors an estimated $2.6 million.
The collapse of Phil Clarke & Son Ltd has left staff out of pocket by about $100,000 in wages and holiday pay, while Inland Revenue (IRD) is owed $1.8m.
The business was placed into liquidation on July 8 by its shareholder, and Insolvency Matters’ Brenton Hunt was appointed as liquidator.
In his first report released on Monday, Mr Hunt was told by the director a major customer of the company had been reducing its spending to the point where the business had become uneconomic.
IRD assessments had fallen behind.
The sole shareholder and director named for the business in the Companies Register is Daniel…