Companies Office records show Smiths City 2026 Limited was incorporated in February, with Sheehan and Bell serving as directors.
Smiths City was previously owned by Colin Neal’s investment company Polar Capital, which bought the company in 2020 after it went into receivership.
A recent liquidator’s report into Smiths City (2020) Limited shows liquidators sold the intellectual property assets of the company for $101,000 plus GST.
“This represented the highest offer received from the sales process undertaken,” the report said.
Liquidators Colin Gower and Diana Matchett of BDO Christchurch are continuing their work dealing with Smiths City (2020) Limited.
Their latest report estimates a deficit to creditors of more than $25 million.