A Christchurch scaffolding company owes creditors about $500,000 after a merger with its Auckland business failed.
Engelbrecht Group Ltd stopped trading after being put into voluntary liquidation by shareholders Charl Engelbrecht and Ruan Engelbrecht.
The company has an unpaid debt of about $150,000 to Inland Revenue for outstanding GST payments and owes an estimated $350,000 to unsecured creditors.
Formed in 2021, Engelbrecht Group provided scaffolding services in the Auckland area with Engelbrecht as the director also operating a Christchurch-based business.
Insolvency Matters insolvency practitioner Brenton Hunt released an initial report as the appointed liquidator to creditors and shareholders on October 28.
He found a…