By ANNE GIBSON
Auckland builder Campbell Construction has gone into voluntary liquidation, its collapse blamed on the poor state of the industry.
Liquidator Tony Weber of Prince & Partners said the North Shore firm, founded in 1950 by Ray Campbell, had "not one job on the horizon," which pointed to the
downturn in the construction sector.
"They had no work coming up and you get the feeling it's the state of the market," Mr Weber said. "There are a lot of builders having trouble getting jobs."
Campbell, which had an annual turnover of about $7 million, owes 130 creditors less than $1 million, but some of them are the same tradespeople hit by the collapse of two other builders around Christmas: GFF (formerly Equinox Construction) owes 250 creditors $3.1 million and Tauran Construction owes 1000 creditors $2.1 million.
Mr Weber said one creditor, who supplies aluminium products, had told him that in the past year 15 firms he had worked for had gone into liquidation or receivership. "The subbies are a bit angry."
Mr Weber said he was confident Campbell's creditors would receive a reasonable payout, although he did not know the exact amount.
At the time of liquidation the company was working on several private properties and at 14 Auckland schools, including Papatoetoe West, Prospect Primary, Glenavon Primary and Glendowie Primary.
Campbell's shareholders and directors are Frank Hart and Bryan Mongston.
Mr Hart said he had worked for the firm for many years and bought a controlling shareholding when Mr Campbell died some years ago.
He was reluctant to say what went wrong and why the liquidator was called in.
Campbell Construction had employed up to 50 people in its heyday, but was down to about three staff at the time it went into liquidation.
Mr Weber said the largest creditor was owed about $30,000, although all the proofs of debt were yet to come in.
The company's building at 74 Hillside Rd, Forrest Hill, would be sold to help pay its debts.
The building was worth between $300,000 and $350,000, although it had a mortgage on it, Mr Weber said.
He estimated it would take about six months to complete the liquidation.
