Up to 45 jobs, mostly in Dunedin, are at risk.
Auckland-based finance company SH Lock (NZ) Ltd had Algie Agencies placed in the hands of Dunedin receivers Deloitte, but it was too early to determine how much was owed or whether the clothing importer and manufacturer could be traded out of trouble, receiver Michael Horne said when contacted yesterday.
It would take several weeks to work through standing claims and invoices for Algie before the receiver's first report was collated.
Dunedin firm Tamahine Knitwear announced in April last year it would close in June, leaving 50 workers without jobs.
However, in late May that year, Ken Algie, of the Algie Clothing Co and Algie Agencies, bought Tamahine, resurrecting 22 jobs.
Mr Horne understood the receivership could affect up to 25 manufacturing jobs at Kaikorai Valley, about 10 at the South Dunedin distribution depot, and six sales jobs in Christchurch.
Algie Agencies Ltd was incorporated in April 2003, and Ken Algie and his partner, Donna Van Der Vyl, the directors, each had a 50% shareholding.
Mr Algie has not returned calls during the past week.
The Personal Properties Securities Register lists a total of 14 claims over Algie Agencies assets, including multiple lodgements by Motor Trade Finances, Westpac and UDC Finance.
When Tamahine closed, management said it had battled during the previous 20 years with a deregulated market allowing a flood of low-cost Asian imports into New Zealand, a problem compounded by the signing of a free trade agreement with China which would remove import tariffs during the next few years.
Algie Agencies at the time was already making the recreational outdoor brands Peak XV and Shearwater, produced by 10 Dunedin staff and six Christchurch staff.
It planned to continue manufacturing the Tamahine brands Jackson Bay, Aotearoa, Katie Cullen, Ecology, MacKenzie Country, dot.com.nz and Cirrus, initially with a staff of 22 in Dunedin.
While Tamahine had produced garments almost 100% for the New Zealand retail market, the new company planned to produce about 33% of the goods it sold to New Zealand retail/tourism outlets, importing the other 66%.
Mr Algie started in the trade as a designer with Alliance about 35 years ago.
He then spent 20 years with Norsewear before buying the Peak XV brand.
Algie Clothing was about seven years old and during the 18 months before buying Tamahine its turnover had expanded about 10-fold.
