Major New Zealand apple grower and exporter Kiwi Crunch Orchards Ltd may have traded while insolvent at times, according to its first liquidators’ report, as the company’s collapse leaves creditors facing a multimillion-dollar shortfall.
According to a report by Stuff, Kiwi Crunch Orchards and several related companies entered voluntary administration in July before moving into receivership and liquidation. The group managed about 450 hectares of orchards across Hawke’s Bay and Central Otago.
The companies involved include Kiwi Crunch Hawke’s Bay, Kiwi Crunch Exports, Kiwi Crunch Farms, Kiwi Crunch Nurseries and KC IP. Kiwi Crunch Hawke’s Bay was also the sole shareholder of Crasborn Fresh Harvest Ltd, which was placed into…