A discount retail company operating seven stores across Christchurch and Auckland has collapsed into liquidation, leaving millions of dollars in unpaid debts and dozens of employees owed money.
Corsa International Limited, which operated stores under the names Goodstuff, Enjoy, Top Dollar$ and 2Cheap, stopped trading on 13 October after declining sales left the business struggling to pay its bills.
A newly released report from liquidators Grant Thornton reveals the company had approximately $5.17 million in liabilities when it collapsed.
The report, released on Tuesday, shows 34 employees are owed $124,598 in outstanding wages and leave entitlements that qualify for priority payment.
A further $171,974 in employee entitlements is…