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A meltdown in Mānuka honey processing is continuing through winter with the recent liquidation and receivership of two major operators adding to a roll call of casualties in the sector’s premium honey product market.
In late July King Honey Limited and King Honey Holdings were placed into liquidation and receivership.
The closures came as King’s NZX-listed parent company Me Today – which acquired the company for $36 million in 2021 – failed to make a profit for the fifth consecutive year since listing.
The liquidation puts the company’s 70-plus staff out of work and its 18,000 hive operation across the North Island and upper South Island wound down. About 440 tonnes of…