A Queenstown-based tiling business has been placed in voluntary liquidation with an estimated shortfall to all creditors of about $350,000, the liquidators first report says.
Redback Tiling, which provided tiling services in the Central Otago area, was placed in liquidation on February 23 by special resolution of the shareholders and Brenton Hunt, of Insolvency Matters, was appointed liquidator.
The company had been struggling with working capital for some time and, according to director and shareholder Joshua John Bell, revenue levels had dropped in recent months to a level where the business was no longer sustainable.
The director sought professional advice and decided to place the company, which was incorporated in 2021, into…