Sovereign homes goes into liquidation

Wednesday 9th March 2011 1 Comment

Auckland-based home building firm Sovereign Homes New Zealand has collapsed.

Peter Chatfield and Stephen Tietjens of Accru Smith Chilcott are handling the liquidation and were called in by the company's shareholder.

"It is very early at this stage but it is fairly clear that we will not be able to complete the contracts," Mr Chatfield told NZPA. The company employs about 11 people.

The liquidators would be in touch with customers and would try to help them to find new builders, he said.

The company is a contractor to Kensington Park, a resort style neighbourhood being built at Orewa north of Auckland.

Sovereign started in 1997 and has built well over 1500 homes, according to its website.

It is one of the country's largest, wholly-owned, non-franchised, residential builders.

Homes come with a materials and workmanship guarantees.

The company has one director, Peter Wood of St Heliers, Auckland, who is the only shareholder via another company.

NZPA

Comments from our readers

On 10 March 2011 at 7:32 pm Steve Dukeson said:

It is a pity to see a company like this go under. I have worked with the liquidators who are experienced and reputable. Theses are hard times even for companies that are run well (I'm not referring to Sovereign specifically). Steve Dukeson, Dukesons Business Law.