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Stonewood Homes (Receivership)

Stonewood Homes (Receivership)

Old Feb 22nd 2016, 7:56 pm
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Default Stonewood Homes (Receivership)

Just bringing this one to the fore as it seems to be a bit of a worrying trend and may have direct or indirect effect on people who might be in the process of building or seeking to work with Stonewood Homes.

Stonewood Homes franchisor, Stonewood Christchurch in receivership | Stuff.co.nz

The receivers say the receiverships did not affect any of the other independently owned Stonewood franchises operating throughout New Zealand but further on it says that Stonewood's Hamilton franchise went into liquidation on January 13, owing $1.46 million to creditors. The company's Marlborough branch went into liquidation last year owing more than $1m.
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Old Feb 22nd 2016, 9:39 pm
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Default Re: Stonewood Homes (Receivership)

Not looking good.
The master franchise has gone bust - don't know where that leaves the ones still operating.
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Old Feb 23rd 2016, 1:30 am
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Default Re: Stonewood Homes (Receivership)

I remember looking at their showhome in Pokeno a couple of years ago and thinking they were nice houses, but I heard rumours back then that the company was in trouble. I suspect dirty dealings in the wood pile.
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Old Feb 23rd 2016, 5:30 am
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Default Re: Stonewood Homes (Receivership)

Originally Posted by LittleGreyCat View Post
Not looking good.
The master franchise has gone bust - don't know where that leaves the ones still operating.
Usually good news for a franchisee if in trouble, no need to worry about paying for the "services" that Master Franchisees often overprice and under-deliver on.

Might not all be bad news.
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Old Feb 23rd 2016, 10:51 am
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Default Re: Stonewood Homes (Receivership)

Originally Posted by simonsi View Post
Usually good news for a franchisee if in trouble, no need to worry about paying for the "services" that Master Franchisees often overprice and under-deliver on.

Might not all be bad news.
Sadly, if a company goes into receivership then the receiver will be clawing back every available cent with absolutely no regard for a future relationship with the franchisee.

Could be good news for the profitable ones, but I'm not sure if they can continue to use the branding if they don't pay. Again that could be a good thing, but I am assuming that there was some value in the brand which persuaded them to sign up.

Anyway, hope the others survive, there is always the need for more housing.
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Old Feb 26th 2016, 7:19 am
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Wink Re: Stonewood Homes (Receivership)

Yeah well...must be tough selling houses in Christchurch.
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Old Feb 26th 2016, 9:33 am
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Default Re: Stonewood Homes (Receivership)

Lucky Lucky we didn't go with Stonewood to build our new house. Really liked their products as well so happy to have steered clear of that potential nightmare.
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