A meeting of an Otago construction company’s creditors has been called to determine its future.
In February, Otago Homes Ltd, a franchise of Landmark Homes, was placed into voluntary administration.
Landmark chief executive Gary Woodhouse told RNZ at the time the franchisee had essentially "run out of money" after struggling with materials and skills shortages in the face of "extreme" housing demand.
The creditors included building merchants, sub-contractors and tradespeople.
Otago Homes had three people on its staff and one director, Andrew Lawrence.
Earlier this week, a public notice was issued about the watershed meeting of creditors.
The purpose of the meeting is to consider the report of the administrator, and determine whether to execute a deed of company arrangement, bring the administration to an end, or place the company into liquidation.
At the time Otago Homes was placed into administration, the company had eight builds under way in the Otago region.
Mr Woodhouse said the company wanted to see them all completed and was working hard to ensure that happened.
Last year, business advisory firm BDO’s annual construction sector report warned smaller firms were at risk of failing, as they grappled with significant cost pressures from higher material costs and wages.
The Companies Office listed Otago Homes’ owners as two trusts — Auckland-based Capri Trustee Company Ltd and Tauranga-based Sharp Tudhope Trustee Services No 22 Ltd.
The watershed meeting of creditors will be held in Queenstown next week.
