Creditors are owed about $149,000 following the voluntary liquidation of Dunedin food and drinks wholesaler Leith Distributors, liquidators estimate.
Leith, under the trading name of Freshstart 2007 Ltd, is owned by sole director and shareholder Peter Hanlin, of Mosgiel, who put the company into liquidation in late August.
There are four secured creditors, with interests on the Personal Property Securities Register, nine preferential creditors and 94 unsecured creditors.
Liquidator Iain Nellies, of Insolvency Management, has delivered his first report on Leith, but said that until all company records were examined, he could not determine whether there would be a dividend to creditors.
He said the estimated total owed to creditors was $339,000, less assets of $190,000, including $95,000 owed to Leith by debtors, which would leave a deficit of $149,000 for creditors.
He said no-one wanted to buy the company as a going concern.
There were offers for all plant and stock, plus partial offers, but it was decided to sell the stock in hand and realise the remaining assets through an auction.
