End of road for another Rout firm
The business that Queenstown contractor Steve Rout used to buy the assets of his last failed companies has been placed into liquidation.
Blue 9 bought the business and assets of two previous earthmoving companies run by Rout, which went into receivership in 2011.
Iain Nellies confirmed yesterday he was appointed liquidator of Blue 9 on June 26. The other liquidator was Wayne Deuchrass, of Christchurch.
Nellies said they were still working to gather the necessary information together to establish the company's position.
It was an Inland Revenue Department application that led to the liquidation.
Jesse Rout confirmed yesterday the company had ceased trading before the liquidation. His father was working in the Philippines, he said.
One of Rout's earlier companies, Rout Bros Contracting Ltd, was placed in liquidation in 2002. The other company director was his brother Richard.
Then, in 2011, Steve Rout Contracting went into liquidation and was found to owe more than $5.3 million to creditors including $595,000 to unsecured creditors who were unlikely to get any dividends.
It was one of three Frankton businesses run by Rout and son Stacey as an earthmoving contractor, materials supplier and digger hirer and employing about 45 people.
East South, was placed in receivership and Southern LC, in receivership and liquidation.
Business and assets of East South and Steve Rout Contracting, including cement tankers, trucks and cement stock, were sold to Blue 9, according to Company Office documents. They are unclear where the Southern LC assets ended up. That company had traded as Procure Concrete and its assets included a concrete plant, six mixer trucks, cement and intellectual property.
According to Company Office documents Rout stepped down as a director of another company, Nuroad Ltd, in October last year and ceased to be a shareholder two weeks before the liquidation of Blue 9. His wife, Jane, and son Jesse have been appointed directors and shareholders.
In other recent changes, he ceased being a director of Queenstown Hardfill Management Co Ltd in May this year. Sons Jesse and Stacey were earlier appointed as directors. Shares are held by Steve Rout Contracting Ltd and Faulkes Enterprises Ltd (in receivership).
According to the Companies Office website the only operating company of which Rout remains a director is Central Crushing Ltd.
- The Southland Times
Subscribe to a digital replica of The Southland Times.
Southland Times subscriber news and information.
Click here for information about advertising with The Southland Times.