A company partially owned by a former All Black that operated a restaurant in Canterbury has entered liquidation, with debts exceeding $450,000 owed to creditors.
Tap And Go Ltd managed the Grain & Grape venue located in the small town of Darfield.
The New Zealand Companies Office records show Murray Davie and Bernadette Taylor as directors and equal shareholders of Tap And Go.
Davie, 69, is a former All Black who joined the national team for the 1983 tour of England and Scotland and also competed for New Zealand in water polo, while Taylor has experience in the hospitality industry.
Insolvency practitioner Brenton Hunt from Insolvency Matters was appointed as the liquidator on September 18.
In the liquidator’s initial report, it was found that the company was unable to meet its debt obligations. Also, the company entered voluntary liquidation immediately following the sale of the business.
“The business was sold at a level that should have been able to pay [the] majority of creditors, but for various reasons the sale price was reduced, leaving a shortfall to creditors.”
Hunt said the company’s bank account contained modest funds, along with a small amount of inventory and plant and equipment that were sold during the business sale.
Of the total projected shortfall, unsecured creditors are owed approximately $250,000, Inland Revenue around $190,000, and staff members are owed $17,000.
According to Hunt, a director committed to personally covering the staff’s unpaid wages and holiday pay.
“Subject to further verification, the liquidator estimates that there will be no funds available to unsecured creditors. However, this will depend on the progress of the liquidation,” he added.
There are over 20 other creditors, including ACC, as well as businesses in the cleaning, legal, accounting, waste management, energy, telecommunications, and music sectors.