A Christchurch-based property chief expressed shock at the scale of Canterbury building company liquidations but says it shows problems with the sector. "I must admit, the numbers surprised me but I'm not surprised it's happening," Hare said. Analysis of hundreds of insolvency records found about 160 companies in the building industry registered in Canterbury have gone bust since January 2015. The building industry's woes have been well-publicised, with the collapse of firms including Stonewood Homes, H & R Garlick, Goodlife Homes and Urban Construction," Stuff reported. Related Content Receivers control five Stonewood businesses Stonewood subbie owed $138K: 'It's horrible' Chow brothers buy troubled Stonewood HomesIvan Stanicich, Canterbury Registered Master Builders president, said he was not surprised by the scale of liquidations Stuff had reported.

Source: New Zealand Herald August 28, 2016 20:48 UTC