About 500 people turned up to Rilean Construction Central Otago’s "yard sale" yesterday morning, at which construction equipment, tools and office furniture were available for purchase.
Company director Gary Dent said the company would trade for another 12 months, due to a defects liability period and retentions being held on the recently completed Remarkables Residences, on the Frankton Flats.
"We’ve still got one house to build and one to finish off, a couple of small projects — we’re just winding everything back.
"We’re not seeking any more work going forward."
About 20 people, including office staff, had been made redundant and all but one, who had to return to the United Kingdom, had found other work, Mr Dent said.
"It’s really sad. They’re great people. I’ve got a lot of respect for them."
There were still about five staff in employment, but Rilean had been using contract staff and would continue to do so to finish off its last projects.
He said the past six months had been "tough" for the business, which dated back to 1979.
Rilean Construction was formed in Wellington by former director Steve McLean’s parents, Noeline and Raymond — Steve McLean was a shareholder in it.
He and Mr Dent later moved to Queenstown and incorporated Rilean Construction South Island in 1994. It was placed in liquidation in March 2015.
Five years prior, Rilean Construction Central Otago was incorporated, with Mr McLean and Mr Dent as the directors.
Mr McLean resigned from his directorship on June 18 but both men are still majority shareholders.
Minority shareholders are Amber and Steven Dent and Lisa-Jayne and Trevor Meikle.
Mr Dent told the Otago Daily Times it was Mr McLean’s decision to resign as a director.
"No, I wasn’t happy that he did, but that’s just life.
Mr Dent said the past six months had been "tough" — the company, with a host of residential and commercial projects to its name, had lost $20 million of work due to Covid-19.
Compounding the struggle was the scale of the Remarkables Residences — the first stage, which has been completed, comprised 56 soldout four- and five-bedroom townhouses. The second stage, 91 one- and two-bedroom apartments, has yet to start.
"It’s been a mammoth task for us, and I just need a rest," Mr Dent said.
"I’m just over it, to be honest with you.
"But it’s been a good time to wind it down ... it’s time to do different things."
He said he could not speak on behalf of Mr McLean, but he intended "to do the right thing by subcontractors, for sure".
"I’m waiting for him [Mr McLean] to come back today on what his intentions are [but] I want to do my best with the creditors I have."
Mr McLean could not be reached for comment yesterday.
