One of the country's largest off-site housing prefabricators, eHome NZ, owes secured creditors $13.9 million.
Receivers Tony Maginness and Peri Finnigan of McDonald Vague released their first report on the business which made components of houses at its Kumeu factory and is continuing to operate.
CJM eHome is owed $7.8 million, ANZ Bank is owed $4.5 million and Ngatotara Trust is owed $1.7 million, the report showed.
Staff are also owed large sums.
AdvertisementAdvertise with NZME.
"It was estimated that there was approximately $301,737 owing to employees for wages and holiday pay at our appointment," wrote the receivers, called in by the owners during February.
eHome had contracts for social housing and was working for Housing NZ at the time of the receivership.
The receivers said the business simply ran out of money.
"The appointment arose as a result of lack of working capital."
Employee claims were detailed.
"As at the date of this report, 65 preferential claims by staff members have been filed or notified to the receivers totalling $365,778. It is anticipated that the preferential claims of employees will be paid on the sale of the business."
They gave no date for the completion of the receivership but said progress was being made on eHome's sale. "The receivers are involved in discussions with interested parties in relation to the sale of the business as a going concern," they said.