Christchurch used-car importer Good Cars Ltd is now in liquidation, likely owing about $1.36 million, with creditors expected to lose out. That is a far smaller number than the $4 million-plus that made headlines when the business went into receivership last December. The gap tells the real story. The secured lenders were paid out of the wreckage. Whoever is left at the back of the queue gets very little.
From $4 million to $1.36 million
The Waltham dealership, which imported vehicles from Japan and sold BMWs, Mercedes, Volkswagens, SUVs and hybrids online and from its yard, was placed into receivership on 4 December 2025 by secured creditor AutoBridge Limited. In March 2026, The Press reported debts of more…