The company behind a failed Wollongong apartment complex has scrubbed clean its website and removed its Facebook page.
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But Kingdom Developments director Andrew Bodnar said it was not an indication the company was about to shut up shop and leave investors high and dry.
Kingdom was the company looking to build an apartment tower in Gladstone Avenue, but lender Keystone Capital took control after the developer couldn't repay what it owed.
The site was sold at auction for $6.2 million and the Mercury understands investors are unlikely to see any of that money.
Keystone had also taken control of a Sydney property and Australian Securities and Investments Commission documents show four other Kingdom Developments properties are in external administration.
The company's website had multiple pages, including a list of more than 20 projects it was developing.
As of Thursday, the site was a single page just listing contact details.
The company Facebook page has also been deleted.
Mr Bodnar said the actions did not mean the company was winding up, leaving investors out of pocket.
Instead, he claimed they were looking at ways to trade out of the situation.
"While we're doing the refinance we want to have a clean slate to present to the new lenders," Mr Bodnar said.
"Until that's resolved we don't want to look like we're advertising for new businesses and getting new money. It seemed the most prudent thing to do, the most professional way to handle it.
"Anything that looks like we might be advertising for more money is an incorrect way to present ourselves - that's our advice from our accountant and solicitors."
However, the company's Instagram page is still up and spruiking for investors.
"DM us to register your interest," several of the company's posts on Instagram state.
Mr Bodnar said he wasn't going anywhere, despite at least one lender expressing concern about what was going on.
"I'm answering your call and I'm answering every call and fighting for this situation amid increased interest rates and trying to get refinancing underway so we can actually get through this," he said.
"Anyone who's an existing customer can still have their login [on our website] and can see everything so there's no problem for existing customers.
"We just don't want to be presenting ourselves as advertising for new money."