Tauranga building company Coast Homes Limited has gone into liquidation, owing a significant amount of money to the taxman.
The director of the company, property developer Stephen Short, told the Bay of Plenty Times today that he closed Coast Homes down a year ago after it had built all the houses it needed to.
"We ceased trading a year ago because it was bound to a restraint of trade at Coast Papamoa Beach development. So that had been sold out, there was no more land, so we couldn't build anymore."
He said Coast Homes had built about 50 houses over