The business also faced higher trading and compliance costs, before it entered arrears with the landlord.
The first report was unable to detail what assets the business had available for creditors other than a vehicle worth $29,294.67 and property, plant and equipment not subject to securities worth $16,369.
The liquidator identified two preferential creditors, including employee claims totalling $53,743, as well as Inland Revenue, which is owed GST and PAYE totalling $84,864.
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As for unsecured non-preferential creditors, a further $313,853 is owed to Inland…