The Dunedin-founded construction company said the subsidiaries had not traded for some time, if ever, and the liquidations would not affect its present operations.
The companies are Naylor Love Construction Ltd, Naylor Love Ltd and TWNL Projects Ltd.
Liquidators’ reports for the three companies said it was part of a ‘‘routine tidy-up’’ of old trading entities by the wider Naylor Love Group.
Naylor Love Construction Ltd was incorporated in August 1918 and had been the main contracting entity until it ceased trading in 2017.
Naylor Love Ltd had never traded, while TWNL Projects Ltd had provided project management services and was bought from a joint venture partner a year ago. Both companies were solvent and liquidators were not aware of any creditors nor assets for either.
Naylor Love chief financial officer Murray Dickinson said the entities had not traded for some time and the company had decided to ‘‘wind up’’ the three as part of a wider tidy-up, following the appointment of new chief executive Bruno Goedeke in March.
All of its contracts were in new entities, and Naylor Love’s customers, suppliers, employees and subcontractors would not be affected by the change.
Tidy-ups such as this occurred every once in a while, the last one being about 15 years ago, he said.
