Gremara Holdings, one of the Waikato region’s biggest earthworks and transport contractors, has been placed under receivership with Thomas Rodewald and Kenneth Brown of RHB chartered accountants in Tauranga having been appointed as receivers.
Rodewold says that the company is on the market but still trading, if somewhat limited.
“We are trying to sell it as an ongoing concern, but whether this takes place will depend on a number of factors. We are in talks with one main party, and there are a few more in the background. A conclusion will be reached fairly rapidly,” says Rodewold.
“Gremara has had a tough five years. The economy went backwards a bit following the rugby world cup and a lot of contractors had hard times during December, January and February. Gremara just ran out of work which compounded their existing problems.”
With a history spanning more than 25 years, Gremara employs 38 staff and specialises in earth, site and farm works, as well as cleanfill, sand and aggregate supply, and transport.
The latter activities saw Gremara running 15 bulk truck and trailer units, twelve 6-wheeler steel bin tip trucks, and a range of other machinery, including flat deck transporters.
