Home / Liquidation News

Liquidation News

Jewellery business fights for survival

Jewellery business fights for survival

A Manawatu jewellery business which opened nearly 30 years ago has lost its shine, with nearly half a million dollars of debts forcing it into liquidation. Manawatu Manufacturing Jewellers, established in 1985 and owned by Ross and Julie Bailey, was placed into liquidation by order of the High Court last …

Read More »

Mainzeal a tough lesson for sub-contractors

Mainzeal a tough lesson for sub-contractors

When Mainzeal Property and Construction Limited was placed into receivership earlier this month, Mainzeal’s employees, sub-contractors and suppliers were directly affected, as were a number of construction projects under Mainzeal’s control. Many sub-contractors found themselves locked out of the building site they had been working on, with their tools still …

Read More »

Mainzeal likely to be put in liquidation

Mainzeal likely to be put in liquidation

Mainzeal’s receiver PricewaterhouseCoopers says the collapsed construction company could be put into liquidation. A liquidator has wider powers than a receiver to ensure all creditors, not just preferred creditors, get a fair share of remaining assets. Subcontractors, who are owed millions in retention payments by Mainzeal, are among the unsecured …

Read More »

Diesel Deliverance closes

Diesel Deliverance closes

Liquidators of an insolvent Blenheim business say customers’ failure to pay bills forced the company to close, owing more than $200,000. Jeff Hart of BDO Wellington was one of the liquidators assigned to Diesel Deliverance, which went into liquidation on February 7. The business, a diesel mechanic workshop, servicing and …

Read More »

King Facade funded by Mainzeal: liquidators

A Mainzeal subsidiary that has copped some of the blame for pushing the construction company into receivership owes over $14 million, its liquidators say. King Facade Limited was put into voluntary liquidation on February 12 by shareholder Richina Global Real Estate Limited (RGREL) – part of a business empire built …

Read More »

Liquidation after ‘rough few years’

A Waikawa boatyard owner is wrapping up his boat building company after more than 30 years, to concentrate on his boat repairs and maintenance business. Franklins of Waikawa owner Ian Franklin said on Friday he put his boat building business Ian Franklin Boat Builders into voluntary liquidation on Thursday. The …

Read More »

Liquidator may sue Bullion Buyer head

The director of an embattled bullion trading firm that owes investors at least $3 million could face civil action from its liquidator. The Serious Fraud Office (SFO) last month launched a formal probe into Grace Holdings NZ, which ran the Bullion Buyer website, and seized documents from the company’s downtown …

Read More »

Entrepreneur loses shirt as fashionistas move on to different designer gear.

The Ed Hardy fashion line was briefly the label du jour of New Zealand celebrities. But when the American designer-wear fell out of favour with wealthy clients, it cost entrepreneur Warren Hignett his store – his company GEORGE AND HENRY HOLDINGS LIMITED was placed in liquidation. Read the full article …

Read More »