That includes about $200,000 owed to the Inland Revenue Department (IRD), which has begun 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 due to business challenges.
The company was placed in liquidation on July 3, Insolvency Matters’ Brenton Hunt being appointed liquidator.
In his first liquidator’s 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 director.
Mr Hunt said the director advised the company had struggled with a couple of recent projects.
"Inland Revenue assessments had fallen behind [and] the director had worked hard to keep assessments up to date, but was not successful. Inland Revenue had commenced legal actions for the recovery of the overdue assessments."
The liquidator was collecting financial information and investigating the company’s trading history as well as claims by creditors.
Select Building’s bank account funds were described as modest at liquidation, with limited plant and equipment to be collected and sold.
Two motor vehicles had finance owing and initial investigations indicated large overdrawn shareholder accounts.
Unsecured creditors were estimated to be owed about $150,000 by the company, which began trading in 2016.
June data from credit bureau Centrix shows company liquidations nationally rose 27% year on year, partly due to increased enforcement activity by the IRD.
