Peter Watt Machinery Ltd in Alexandra has gone into receivership but the receivers are hopeful of selling it and keeping the business trading.
It employs three staff and deals in machinery sales and parts, servicing and repairs. It was placed into receivership and liquidation on July 31.
On behalf of receivers Colin Gower and Tim Ward, BDO Christchurch partner Stephen Tubbs said it was ''business as usual'' and the firm remained open and trading.
The business was advertised for sale this week by the receivers in the Otago Daily Times.
It was described as ''well-established'' with annual sales of about $2.2 million and a customer network throughout the Central Otago and Queenstown-Lakes districts.
The advertisement said there was a wide range of stock on site to enable continued trading in parts retail and servicing and repairs.
Mr Tubbs said no further details about the business would be made public until the first receivers' report was filed in early October.
The New Zealand Companies Office website lists the two shareholders in the company as Peter Walter Watt and Margaret Yvonne Rose Watt, each owning half the shares.
Mr Watt declined to comment on Wednesday on the business going into receivership.
