According to the liquidators’ first report, Cafe Cuba owes creditors more than $1.6m.
The majority is owed to Inland Revenue, including $512,202 in GST and $992,367 in employee deductions.
Staff are allegedly owed $24,500 in holiday pay, while $13,612 is owing to unsecured trade creditors.
Creditors include BNZ, ACC, Genesis Energy, Havana Coffee Works and Mercedes-Benz Financial Services New Zealand.
“The liquidators have been advised that the reason for the failure of the company, which led to the appointment of the liquidators, is due to the company having insufficient assets to satisfy its liabilities,” the report said.
Data from Centrix this week shows the hospitality sector is the second-highest contributor to annual liquidation…