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Christchurch-based building company Corbel fails

Another building company has collapsed.

Christchurch-based Corbel Construction has gone into liquidation.

It is the latest in a string of companies to fail or suffer losses. Earlier this year Ebert Construction was put into receivership and Christchurch company Maven Interior went into liquidation.

In June, heavy losses forced Fletcher Building to streamline its business and concentrate on core markets.

Accountancy firm Aston Wheelans has confirmed it is the liquidator for the Corbel Construction.

Email enquiries to director Mark Wells, who has a 48 percent share in the company, are returned with an automatic email response saying he no longer works for the company and that it is in liquidation. Corbel's website is no longer working, displaying only an "account suspended" message.

The medium sized company was set up in Christchurch in 2000 and expanded to Auckland in 2015.

The firm grew through its work on large-scale multi-unit residential refurbishments following the Canterbury earthquakes.

In a 2015 media statement, director Craig Jones described the company's growth and future intentions.

"While Corbel has grown from a six man team in 2000 to a multi-million dollar, 100-plus employee company, our intention is to continue with our growth ambition to become a $100 million nationwide construction company by April 2015," the statement said.

Last year Corbel said it signed up $35m of new projects in Auckland, including work for the Ministry of Education.

At the time, the company's Auckland general manager Kevin Burke said the team had hit the ground running.

"Auckland will come close to contributing around 30 percent of the company's targeted annual revenue of over $50 million in its first full year of operations, this financial year."

The company's directors have been contacted for comment on the liquidation.

rnz.co.nz

Unrecognizable manual worker using circular saw while cutting piece of wood at construction site. His colleagues are in the background.
Building site. (file image) Source: istock.com