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Stonewood has 110 unfinished houses - 26th Feb 2016

Stonewood has 110 unfinished houses Receivers of the master franchisor for one of New Zealand's largest house builders say 110 houses are unfinished, unsecured creditors are owed about $15 million and they hope to sell the business which employs 85 staff.

Christchurch-headquartered Stonewood Homes is now in the hands of receivers Grant Graham and Neale Jackson of KordaMentha and Graham's statement revealed more details of the situation.

"Stonewood Homes Ltd currently has 110 houses in various stages of construction. We are mindful that this an anxious time for the owners of these homes and that they want to know where to from here. Therefore we are working as quickly as possible to conclude a detailed status review of each build. This will take time to complete but we believe we will be able to update owners on progress by the end of this week," Graham said.

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