Today it was announced that after more than 90 years of operations the Youth Hostel Association of New Zealand, also known as the YHA New Zealand, had gone into liquidation.
It joins a growing list of Kiwi companies unable to continue in the face of growing costs with liquidations up 27% up on this time last year.
But how does the liquidation process work and how are a company’s assets managed once it is no longer financially viable?
Damien Grant has worked in the insolvency industry for close to 20 years. He’s the principal of Waterstone Insolvency, as well as a business commentator in the media.
He speaks to Emile Donovan.
Photo: RNZ / Michelle Tiang
