Kiwi beer importer and distributor, Beertique NZ, has gone into liquidation following 11 years in business.
Insolvency specialists Reynolds & Associates reported that the decision was made as a result of the affects of COVID-19, where Beertique found itself struggling with a different business landscape.
The company, which began as an importer and distributor of craft beer, had to move to providing storage and delivery services for local craft breweries.
However, the pivot was unsuccessful and Beertique NZ ceased operations in May, citing lockdowns, legal actions by creditors and mounting competition as the primary reasons for its demise, according to BNN.
Directors Melissa and Philip Dale received $95,000 in COVID relief funds, however Reynolds & Associates’ report states that the company owes $267,000 to suppliers and other creditors.
They also owe an undisclosed amount to Inland Revenue.
An update on Beertique NZ is expected within six months.
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