Grays Funeral Services has been placed in receivership and is up for sale, with receivers confident its unfinished development will be completed.
The Rotorua Daily Post reported on Saturday how construction of Grays' new funeral home at Ngongotaha had ground to a halt, due to lack of funds.
Local contractors had been left out of pocket, with one claiming to have gone out of business as a result.
On Monday, the Companies Office record for Grays Funeral Services 2005 Limited was updated to show it had been placed in the hands of receivers BDO Tauranga Limited. The receivers were appointed on Thursday. The business and assets are being advertised for sale on an urgent basis, with expressions of interest closing on Monday next week.
"I am still fairly confident that the development will be completed," receiver Thomas Rodewald said yesterday.