The administrators of Arrow International have have revealed debts of about $21 million, and advertised the sale of a development property to raise cash. The administrators Andrew Bethell and Colin Gower at accountancy firm BDO have been managing the handover of development sites to new companies or arranging for projects to be completed. READ MORE:* Arrow International collapse: Building minister looks at industry protections* How Arrow fell from grace after 30 good years* Arrow International collapse a sign of fragile New Zealand building industryThey expected the figure to rise as creditors put in claims. SUPPLIED Arrow International owners and directors Bob Foster and Ron Anderson have handed over administration of their company to BDO. "Given the administrators' instructions, all offers for the Portlink sites will be considered," Staite said.

Source: Stuff March 26, 2019 03:56 UTC