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Fallout from continuing low returns and surplus Rockit apple volumes is continuing, with another orchard business going into liquidation.
Hawke’s Bay-based Mana Orchards was placed in liquidation on November 24, only four weeks after MyFarm investment company’s Rākete Rockit apple orchard went into voluntary administration.
The liquidator’s report cites the company owing Bank of New Zealand $6.6 million. Its directors are longtime Bay of Plenty kiwifruit growers John Cook and David Goodwin, who own the 24 hectare orchard on Stock Road, Flaxmere.
The report notes that both have been co-operative in assisting the liquidators.
It says the reasons for the company’s insolvency relate to…