Another two Canterbury building companies have gone into liquidation after accumulating debts.
Alpha Construct Ltd owes a combined $867,000 to Inland Revenue (IRD) and creditors, while unrelated company Gellatly Builders Ltd has an estimated total shortfall of about $297,000.
Alpha Construct shareholders and directors Keith Carney and Sarah Browne voluntarily put their company into liquidation after seeking professional advice.
Insolvency Matters liquidator Brenton Hunt said in his first report released on January 26 the company had fallen behind with IRD assessments.
IRD was owed about $500,000 and unsecured creditors about $350,000.
The directors gave staff notice in November and stopped trading, he said.
Mr Hunt said the company bank account was in overdraft at liquidation with accounts for unpaid work to be retrieved.
Company vehicles had finance owing and the value of plant and equipment was being investigated.
Creditors were unlikely to be paid back at this stage.
Christchurch-based co-shareholders and directors Andrew and Rachel Gellatly placed Gellatly Builders into voluntary liquidation, stopping trading on December 24.
Mr Hunt was also the liquidator for Gellatly Builders.
He found in his first report, released on January 23, the IRD was owed about $200,000 and unsecured creditors about $100,000.
"Subject to further verification, the liquidator estimates that there will be no funds available to unsecured creditors. However, this will depend on the progress of the liquidation."
The failures follow Civil and Land Construction’s last month, owing more than $1.8 million.
