According to their first liquidators report, Wilson Barbecue was placed into liquidation due its inability to meet its current debt levels as they fell due.
“The company’s insolvency resulted from the current economic environment in the food retail industry, which led to diminishing cash flow,” the liquidators said.
Inland Revenue is owed $644,192, however, the liquidators said they expect that figure to increase as it doesn’t include interest and penalties.
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The company had 15 staff prior to its liquidation. While all wages have been paid, $17,781 is owed in holiday pay entitlements.
There are also about 75 unsecured creditors owed $297,372.
Creditors include ANZ, Coca-Cola Amatil (NZ), Contact…
