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Tree Children owner Sara Raider went bankrupt owing $600,000
The strange saga of Nelson's quirkiest trinket shop has taken yet another twist, with the revelation that its owner ran up debts of more than half a million dollars during Tree Children's brief period of trading.
Sara Raider went bankrupt owing more than $613,000 to an array of creditors, financial backers and artisans, most of whom stand little chance of ever seeing their money.
Raider was the sole director and shareholder of the quirky Nelson store before both were transferred to another person who was later convicted for unrelated dishonesty offences. She has since returned to the United States.
Insolvency documents from the Official Assignee reveal that Raider declared bankruptcy last year. The reason given is: "Failure to keep proper books of account and costing records."
Read the full article by Charles Anderson > Business Day - stuff.co.nz