Construction companies Tallwood, Stanley Group in liquidation
Auckland and Waikato building company Stanley Group and related company Tallwood have been liquidated.
The companies were placed into liquidation on Thursday after a vote by shareholders, the Companies Office showed.
The business has about 100 staff and is headquartered in Takapuna with a factory and office in Matamata.
It had three projects underway for Housing New Zealand in Mangere, Hamilton and Whakātane.
It is understood Stanley Group got into financial trouble after it under-quoted for work with Housing New Zealand.
It was also building The Grounds apartments in Hobsonville, a 42-apartment development in the Auckland region, and the Richmond Villas in Thames.
Its completed projects included the Showcase moveable buildings in the Britomart precinct, University Hall at Auckland University, interim buildings for Albany Senior High School and it built a new wing at the Chateau Tongariro.
A creditor, who Stuffhas agreed not to name, said he expected the company would owe millions. The creditor's business would likely be owed about $150,000 for staff it had supplied to the group's sites.Read more on stuff.co.nz here