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Bromhead Design in liquidation owing more than $270,000
High-end furniture importing business Bromhead Design Associates has gone into liquidation, owing more than $270,000.
The company is owned by interior designer and one of the country's most celebrated cartoonists Peter Bromhead.
Liquidators Simon Dalton and Matthew Kemp said in their first report that the company's shareholder decided to place the company into liquidation after concerns over its solvency.
Unsecured creditors are owed $269,415 and the company's total estimated deficit is $274,152.
The Inland Revenue Department is the company's sole preferential creditor, meaning it will get paid out first, and is estimated to be owed $4737.
Read the full article on line > Business Day - stuff.co.nz