A group of companies trading under the CEA banner - owning 20 mainly southern hotels and bars, and employing about 300 people - has been placed in the hands of receivers.
Details released about 5pm yesterday by the receivers, McGrath Nicol Partners in Auckland, were sparse and did not include a list of the 20 hotels.
It is understood several Otago bars have been under the CEA umbrella, including the Speight's Ale House and Shooters Bar in Wanaka, and The Frankton Arm Tavern in Queenstown.
Andrew Grenfell, of McGrath Nicol, said in a brief statement the four CEA companies were placed in receivership by an unnamed secured creditor for an unspecified amount.
"Our objective is to work with the group's stakeholders to stabilise the business and make a factual assessment of each venue's financial position and prospects," Mr Grenfell said.
He said it would be "business as usual" for the companies, while receivers liaised with employees, customers, suppliers and regulatory authorities "over the coming days to ensure minimal disruption to operations".
A spokeswoman for the receivers declined to release any further details when contacted, while another said a list of affected hotels was not being supplied immediately in order "to preserve the value of the whole group and the 300 jobs affected".
In October last year, CEA Trading became embroiled in a voluntary receivership issue because a similarly named Australian company was placed in receivership.
At the time, CEA Trading Ltd director Bronwyn Binden said the New Zealand hospitality company was "buoyant" and the Central Otago bars it owned were all running at a profit.
She declined to comment when contacted yesterday.
In receivership
• CEA Trading Ltd (administrator appointed),CEA Staff Employment Services Ltd.
• CEA Services NZ Ltd.
• CEA Property Ltd
