3 days ago
New York Bagels enters liquidation after 30 years, $84,000 owed to IRD
Auckland-based New York Bagels has gone into liquidation. Photo / Supplied
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Auckland-based New York Bagels has gone into liquidation. Photo / Supplied
Auckland bagel manufacturer and supplier New York Bagels has gone into liquidation after almost 30 years in business.
Paul Manning and Thomas Rodewald of BDO NZ were appointed as liquidators before vacating the position, later to be filled by Steven Khov and Kieran Jones.
The business had two shareholders, Zacura Holdings, which held 75% of the business and is owned by Glen Curd, and Lucy Green, who held the remaining 25%.
According to Khov and Jones' first report, New York Bagels experienced a downturn in revenue, impacting cashflow, and was forced into defaulting on liabilities as they fell due.
Before they vacated their role as liquidators, Manning and Rodewald froze the company's bank account and contacted secured creditors asking for details of their debt and securities.
