A North Canterbury-based construction firm, Hanmer Building Solutions, has gone into liquidation.

The company, which was incorporated on 10 November 2010, ceased trading following its appointment of liquidators on 3 September.

Hanmer Building Solutions operated as a residential building contractor in and around Hanmer Springs for over a decade.

On its now-removed website, the company said it had ‘local NZ certified builders in Hanmer Springs, Canterbury, specialising in new homes, house renovations, kitchen remodels, bathroom renovations, and house extensions.’

A sub-contractor told chrislynchmedia.com the company had several sites under construction.

The company’s director cited rising costs of supplies, pricing issues, and historic debt as the primary reasons for the business’s insolvency.

A report released by the liquidator indicated that an investigation would be conducted to identify any additional assets and explore other potential avenues for recovery. As of now, no preferential claim has been lodged by the Inland Revenue Department (IRD) regarding outstanding tax obligations.

The report also revealed that outstanding preferential holiday pay claims totalling $17,482 remain unpaid.

The company owes several creditors, including UDC Finance Limited ($20,474), Millbrook Kitchens Limited ($14,673), and Kaiapoi Building Supplies Limited ($154,881), amongst others.

Additional amounts owed to employees and the Inland Revenue Department are still under investigation, with early indications suggesting that the company’s debts could be significantly higher than initially reported in the first liquidators’ report.