Hawke’s Bay businesses are bracing themselves for the fallout from what could be one of New Zealand’s biggest company collapses in recent years.
Hawke’s Bay apple grower Kiwi Crunch has lost its battle to stay afloat, after the IRD succeeded in placing one of its subsidiaries, Crasborn Fresh Harvest, into liquidation today.
And on Friday afternoon, ASB moved to appoint Daniel Stoneman and Neale Jackson of Calibre Partners as receivers, under the provisions of a general security deed dated March 1, 2024.
The move effectively means the receivers will be in control of any assets, with unsecured creditors having to wait until the receivership concludes.
ASB has been approached for comment.
The…