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The Original Children’s Bookshop goes into liquidation after 37 years of trading
The Original Children's Bookshop has gone into liquidation after nearly 37 years of trading in Christchurch.
The bookshop, which traded on Victoria St for about 35 years before moving to Riccarton after the 2011 earthquakes, went into voluntary liquidation on October 21.
Creditors are owed about $295,000, including $6900 in employee claims and $288,000 to unsecured creditors, according to the liquidator's first report.
The report states the bookshop has assets of about $100,000, including $46,000 worth of stock.
Liquidator Murray G Allott's report states the company has struggled because it has "not achieved the level of sales necessary to be able to trade profitably".
Read the full article by Charlie Gates > Taranaki Daily News > stuff.co.nz