If you searched for news that David Reid Homes Coromandel has collapsed, the short answer is: yes. The local franchise company that traded under the David Reid Homes name on the Coromandel Peninsula was placed into liquidation by the High Court in late 2024, and the fallout — unpaid subcontractors, half-finished builds and possible legal action — has been working through the courts since. This page pulls together what is publicly confirmed from court records and New Zealand news reporting, in plain English, with links to the official sources so you can check the latest yourself.
⚠️ This is a developing legal/financial story. Figures and court steps can change. For live, authoritative detail, see the official New Zealand Gazette liquidation notice and the liquidators’ reports filed on the NZ Companies Office register. We last reviewed this page in June 2026.
What happened, in brief
The company behind the local franchise was Design & Build Coromandel Limited, which traded as David Reid Homes Coromandel. According to the official New Zealand Gazette notice, it was placed into liquidation by an order of the High Court at Hamilton on 25 November 2024, following an application by a creditor, Montage Group Limited.
The appointed liquidators are Paul Thomas Manning and Thomas Lee Rodewald of BDO Tauranga Limited. They are now responsible for investigating the company’s affairs, identifying assets, and reporting to creditors. (Source: NZ Gazette notice 2024-al6113.)
New Zealand news outlets — including the Waikato Times and the NZ Herald — have reported that the collapse left creditors out of pocket, that the liquidators raised the possibility of breaches of the Companies Act, and that legal action was looming. The Waikato Times reported a total exposure in the order of several million dollars across creditors. We’ve kept exact figures deliberately cautious here because they are drawn from headlines and early liquidator reporting and may be revised — always treat the official liquidators’ reports as the source of truth.
Who was affected
- Homeowners with builds in progress. Reporting indicates some clients had homes that were only partly built when the company stopped trading, leaving them to find new builders to finish the work — often at extra cost.
- Subcontractors and suppliers. Tradespeople and material suppliers who worked on Coromandel projects were among the unsecured creditors left chasing payment.
- People who had paid deposits. Anyone who had paid money up front to the local company joins the queue of creditors. Whether a deposit is recoverable depends on how it was held and where it sits in the legal order of priority — see the FAQ below.
If you fall into any of these groups, the practical step is to register your claim with the liquidators (BDO Tauranga) and keep copies of every contract, invoice, payment and email.
Timeline of the key events
| Date | Event |
|---|---|
| 5 Sept 2024 | Liquidation application filed against Design & Build Coromandel Ltd by creditor Montage Group Ltd |
| 25 Nov 2024 | High Court at Hamilton orders the company into liquidation; BDO Tauranga appointed |
| 28 Nov 2024 | Liquidation formally notified in the New Zealand Gazette |
| 2025 | Liquidators report creditor claims; news reporting of possible Companies Act issues and potential legal action |
Is the David Reid Homes brand finished?
This is the part that causes the most confusion, so it’s worth being clear. “David Reid Homes” is a franchise brand, and an individual franchise company failing is not the same as the whole brand disappearing. The collapse described above relates specifically to the Coromandel franchise company (Design & Build Coromandel Ltd).
Separately, the wider David Reid Homes network has had a turbulent history. Earlier New Zealand franchises (such as Wellington and Nelson) failed in earlier years, and in late 2025 the Australian arm, David Reid Homes Australasia Pty Ltd, also entered voluntary liquidation before being bought and relaunched under new ownership. Those are separate legal entities in a different country. If you are dealing with a current David Reid Homes builder anywhere, confirm exactly which company you are contracting with and check its status on the Companies Office register before paying anything.
What to do if you’re an affected homeowner or creditor
- Lodge a claim with the liquidators. Contact BDO Tauranga Limited (Level 1, The Hub, 525 Cameron Road, Tauranga) and ask to be registered as a creditor.
- Read the liquidators’ reports. These are filed periodically on the Companies Office and set out assets, claims and likely returns to creditors.
- Check your building guarantees and insurance. Some builds carry a third-party building guarantee (for example a Master Build or Halo-type guarantee) that may help cover incomplete work or losses — check your contract.
- Talk to a building dispute / construction lawyer. Especially if you paid a large deposit or have a partly built home, early legal advice protects your position.
- Get independent quotes to complete the work from a licensed building practitioner, and have a building surveyor assess what’s already been done before anyone resumes work.
Useful official starting points: the Licensed Building Practitioners register, the Ministry of Business, Innovation & Employment (Building Performance), and the Citizens Advice Bureau.
The wider context on the Coromandel
Building-company failures hit small communities hard, and the Coromandel — from Coromandel Town through Pauanui, Tairua and Whangamata — has a building sector heavily geared toward holiday homes and lifestyle builds. New Zealand’s construction downturn from 2023 squeezed many residential builders nationwide, and reporting has noted that the David Reid Homes situation sits within a broader pattern of franchise-builder collapses during that period. If you’re researching the area more generally, our Coromandel Peninsula local’s guide and Whangamata accommodation guide may be useful.
Frequently asked questions
Did David Reid Homes Coromandel really go into liquidation?
Yes. Design & Build Coromandel Limited, trading as David Reid Homes Coromandel, was placed into liquidation by an order of the High Court at Hamilton on 25 November 2024, with Paul Manning and Thomas Rodewald of BDO Tauranga appointed as liquidators. This is confirmed in the official New Zealand Gazette notice.
How much was owed and were there breaches of the Companies Act?
News reporting (Waikato Times, NZ Herald) indicated creditors were owed a substantial sum — figures in the order of several million dollars were reported — and that the liquidators flagged possible Companies Act breaches, with legal action looming. Exact amounts and any findings are set out in the liquidators’ reports on the Companies Office register, which is the authoritative source for current figures.
I paid a deposit — will I get it back?
It depends. In a liquidation, unsecured creditors (which usually includes customers who paid deposits that weren’t held in trust) are paid only after secured creditors and certain priority claims, and often receive only a portion — or nothing. Register your claim with the liquidators promptly, gather all your documentation, and seek legal advice. Don’t assume a deposit is automatically recoverable.
Is the David Reid Homes brand still operating elsewhere?
The brand operates as a franchise, so other entities may still trade under the name. The Coromandel collapse relates to one franchise company; the separate Australian business entered liquidation in late 2025 and was then relaunched under new ownership. Always confirm the exact company name and check its status on the Companies Office (NZ) or ASIC (Australia) register before signing any building contract.
Sources: New Zealand Gazette (2024-al6113); Waikato Times reporting on the collapse and possible Companies Act breaches; NZ Herald reporting on David Reid Homes closures; ASIC and Franchise Executives reporting on the Australian business. This article is general information, not legal or financial advice.
