Te Arawa Management Ltd is a subsidiary of the Rotorua-based Te Arawa Lakes Trust.
Joint liquidators Thomas Rodewald and Paul Manning from BDO Tauranga released their first report on Thursday, which detailed the next steps of the process.
The liquidators will trade the business in the short term while they advertise it for sale, and will arrange asset and stock valuation.
“The company was purchased out of receivership and the shareholders have been putting funds into the business since.
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“It is not economic for this to continue and the shareholders resolved to liquidate the company.”
They believed all creditors would be paid in full within a year, if they weren’t already.
January 13 was set as the last…
