From an aviation industry website, Jan 2008:

ALPHA AVIATION IN LIQUIDATION: New Zealand GA manufacturer Alpha Aviation has closed its Hamilton factory and entered liquidation following the Bank of New Zealand appointing a receiver to some of the company's subsidiaries.

The maker of the Alpha 2000 series of GA aircraft has cited production problems of the aircraft as the major reason for the company's demise. In a statement to the ASX, Alpha's Australian parent company Inventis Limited said: “The action of placing these companies in Liquidation was taken by the Board of Inventis as a result of the failure of Alpha Aviation to meet its projected output of aircraft and the consequential impact that this has had on the funding requirements of Alpha Aviation.”
The release goes on to state that the company required significant investment to improve the production process. This was sought initially through a share placement which was undersubscribed and then through New Zealand government grants. After these avenues failed, Inventis sought out venture capital firms to form a joint venture. This was ultimately unsuccessful due to the current financial climate and led to the board appointing a liquidator on January 22.

The failure of Alpha is a significant blow to the Australasian aerospace industry. Alpha was established in 2004 and acquired the designs of the Robin R2160 and R2120 aircraft and renamed them the Alpha 2000 series. The company was taken over in 2006 by Inventis and plans were put in place which would see the company produce over 100 aircraft per annum. Before entering liquidation, sales for the aircraft had been strong with 20 having been delivered and orders for another 16 aircraft with 14 options.

Aside from producing its own aircraft, Alpha was to have partnered with EADS Socata to produce the TB 20 aircraft at an expanded facility in Hamilton. This was expected to increase export revenues by up to NZ$95m (A$85m) and create 438 jobs in the process.

It is hoped that the company can be sold as an ongoing concern and that production can continue under new ownership. There are currently four aircraft in production which may be finished while the company is still in liquidation. If the company cannot be sold, 70 staff face losing their jobs and are owed at least a week's wages.