A Cromwell organic Thai restaurant business, connected to a failed North Otago organic vegetable operation, has been placed in liquidation.
Brenton Hunt, of Insolvency Matters, was appointed liquidator of Organic Thai2Go Ltd earlier this month after the company was placed in liquidation by special resolution of shareholders.
In his first report, Mr Hunt said the company ceased trading on September 21, three years after it was incorporated.
The reasons given for the insolvency included the main supplier of vegetables being placed in liquidation and steadily declining revenue.
In June-July, staff members went on annual leave and working cashflow became constrained, as the firm continued to pay operating costs while not open.
Staff…