TCL Builders: Hastings building firm goes into liquidation; tools auctioned off

TCL Builders has stopped trading and has gone into liquidation. Photo / NZME

A Hastings building company has gone into liquidation owing over $600,000 with its tools and machinery for sale at public auction to help pay creditors.

Building and house construction firm TCL Builders Ltd went into liquidation late last month and the Ellison Rd company has stopped trading.

Company directors told liquidators the insolvency was “due to a general economic downturn”, according to the first liquidators’ report.

TCL Builders has been contacted for further comment.

The company owes over $630,000 to about 50 known creditors, including $30,000 to its employees, according to the first liquidators’ report.

TCL Builders has $6000 in the bank and is itself owed $317,000, which liquidators want to recover. It also has “fixed assets” worth about $500,000, according to the report.

More creditors could still come forward and liquidators are yet to find out how much the company owes IRD.

“All assets will be sold by public auction or private treaty,” the first liquidators’ report read.

“All employees were terminated prior to the appointment of the liquidators. The liquidators are aware of preferential wages and holiday pay claims totalling $30,957 which remain outstanding.”

An online auction is being held by Havelock North-based Rata Auctions, who have been appointed by the liquidators Rodgers Reidy.

That auction opens on Friday and runs until Tuesday selling TCL Builders’ tools and other goods such as machinery and a trailer.

A smaller auction was staged earlier this month selling some of the company’s building supplies.

TCL Builders’ website said the company specialised in builds, renovations, extensions, and project management.

“TCL Builders Limited was incorporated in 2022 but has been around since 2012 as Tudor Contractors,” the website read, which has since been taken down.

Tudor Contractors went into liquidation in March 2023, and the two companies have one common shareholder, Christopher Winterburn.

The two directors of TCL Builders Ltd are Jonathan Newby and Cody Winterburn.

Creditors can contact admin@rodgersreidy.co.nz including for a creditors claim form.

Gary Hamilton-Irvine is a Hawke’s Bay-based reporter who covers a range of news topics including business, councils, breaking news and cyclone recovery. He formerly worked at News Corp Australia.