Harsh economic times have been cited as the reason for the liquidation of a Wanaka interior design business.
Wanaka Interiors, which was incorporated in March 2022, was placed in liquidation by shareholders resolution last month.
In their first report, liquidators Trevor and Emma Laing, of Laing Insolvency Specialists, said the business, owned by Celeste and Isaac Benefield, provided interior design services and retail of high-end home goods.
Economic conditions resulted in declining revenue and the decision to close the retail operation was made. The decision was then made to formally wind down the business, new tenants were secured for the company’s leased premises and company assets were realised.
There was insufficient value…