Rose Built Homes


PHOTO: SUPPLIED Rose Built Homes has left several unfinished houses across Marlborough.

A Blenheim construction company that went into liquidation this month owed more on two fleet vehicles, after buying them on hire purchase, than they were worth brand new.

The financial woes of Rose Built Homes have been revealed in the liquidator’s first report, showing an estimated $1.4 million owed to 51 creditors, mostly Marlburians.

Rose Built Homes appeared to have been “under-pricing jobs” while racking up debt with suppliers, leaving several homes half-built around Marlborough by the time its bank accounts ran dry, liquidator Brenton Hunt said in his first report.

“Investigations so far indicate that the accounting records of the company are in a very bad state,” the report said.