Alpine Drinks Ltd., a water bottling firm located in Hawke’s Bay, has entered liquidation following a High Court ruling last year initiated by one of its creditors.
The company is said to have liabilities of $246,581 to secured creditors and $2,437,334 to unsecured creditors.
In a recent report released by the liquidator, Gerry Rea Partners, it was revealed that Alpine Drinks has garnered interest from third-party investors. The liquidator indicated that these investors are willing to assist in raising funds aimed at settling debts owed to creditors and potentially facilitating the company’s exit from liquidation.
“If the company is not brought out of liquidation, then the liquidator will conduct an investigation into the failure of the company,” Gerry Rea Partners indicated.
Alpine Drinks was established in 2018 by Bhavna and Arajan Odedra “with the aim of creating a world-class, Kiwi-owned beverage business,” the company said on its website.
“Alpine Drinks is founded on the core beliefs of integrity, respect for our staff, our customers, and our community. “
The company sources its water from the Heretaunga aquifer, utilising a resource consent that was granted to another entity, Sleeping Giant Ltd., which is authorised to withdraw up to 1.179 million cubic meters of water annually.
“We believe in the purity and benefits of the Heretaunga Aquifer spring water, and it’s our duty to deliver it to you, our customers, in pristine condition so that regardless of whether you live up the road or on the other side of the world, you too can enjoy pure, naturally alkaline spring water straight from the source.”
Alpine Drinks also promoted water under the NZ Pristine brand.