Macaulay Marchant, the man behind Essential Roofing Limited, put his company into voluntary liquidation on Friday. This move was announced in the website on Saturday.
The company has over $400,000 in tax debts.
Despite this announcement Marchant has promised to complete all his outstanding jobs.
The liquidator appointed by Marchant, Imran Kamall, said that Marchat admitted to gambling about $50,000 a week and he owed around $400,000 in taxes. Some of his bets, due to his elite membership with TAB, included $15,000 on a horse race and $10,000 on a sports bet. The money gambled was the profit earned on his jobs.
He himself said, “I had a million dollar job last year so I made about $300,000 . . . I gambled it all. Some people have a P habit, I had a gambling habit.” However, he added his gambling addiction “has and has never had an issue with my work”.
According to Kamal, Marchant was also behind on his tax returns and he asked anyone with information on the company’s assets to get in touch.
Earlier Marchant told Stuff that he had overloaded his company with work and couldn’t tell customers that the company was behind. He had a lot of hope that things would get sorted within a month and then he would compensate homeowners.
The Christchurch police fraud squad was investigating several complaints in relation to a local roofing contractor, confirmed Sergeant Don Fisher.
People who had been looking to employ contractors were asked to ensure that they obtained at least three quotes from very reputable contractors and to not fulfil payment upfront.
Fisher also said that anyone who believed that they had been the victim of such a travesty should call Christchurch police on 03 363 7400.