A leading supplier of sushi products to Foodstuffs’ supermarkets is facing the liquidation of its companies.
Inland Revenue has filed an application with the High Court in Auckland to liquidate 44 companies controlled by prominent Auckland businessman James Hwang. These companies are held under YB Sushi Holdings Ltd and YB Sushi Catering Holdings Ltd.
Neither YB Sushi Holdings Ltd nor YB Sushi Catering Holdings Ltd are included in Inland Revenue’s liquidation application.
Based on records, Hwang is the sole director and sole shareholder of the two companies.
YB Sushi prepares fresh sushi products in-store for 51 New World and Pak’nSave locations across the North Island. Two associated companies—YB PNS Kapiti Ltd and YB NW Matamata Ltd—have been identified by Inland Revenue as having outstanding tax liabilities.
“If the annual return is not filed immediately, the Registrar will initiate action to remove the company from the register,” a notice on the Companies Office said.
Inland Revenue’s application against the companies linked to James Hwang is set to be heard on November 27.