Armstrong Downes Commercial: more construction companies could collapse

The Chief Executive of one of the country's biggest commercial construction companies warns more building companies could collapse. Wellington-based construction company Armstrong Downes Commercial was put into liquidation yesterday, having suffered large losses from fixed price contracts, also procurement challenges, and labour shortages. Armstrong Downes Commercial has eight projects underway in the capital. Liquidators have taken control of construction sites, which are temporarily closed, and builders are locked out. Kathryn speaks with Rick Herd, also spokesperson for the Vertical Construction Leaders Group.