Andrew Kelleher on the Mainzeal downfall
Thu, 07 Feb 2013 6:18a.m.
New Zealand's third largest building company has gone into receivership, saying its financial position has been hit by a decline in commercial construction activity and a series of other events.
But the downfall of Mainzeal Property and Construction comes as it had a substantial amount of work lined up as part of the Christchurch rebuild.
Andrew Kelleher from ASB Securities spoke to Firstline this morning about this and other business news.
Watch the video.
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7/02/2013 11:35:38 a.m.
This is a perfect example of corporate greed biting the dust and nothing Govt could have done would have prevented it from happening. Disappointing from a worker and investor point of view, but it's an unfortunate outcome of commercial reality. Investor and worker beware.
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