Olivers Central Otago Ltd, which was the former owner of Olivers Restaurant and Lodge at Clyde, has been put into liquidation.
Liquidators Iain Nellies and Wayne Deuchrass from Insolvency Management, Dunedin, have been appointed to wind up the company's affairs.
Mr Nellies said they had just started to look at the company's assets and liabilities and it would be some time before the liquidation was complete.
Former owner Jason Lopas ceased to trade in March last year.
Olivers mortgagee, Advanced Securities Ltd, from Hamilton (now trading as ASL Mortgages), took ownership of the complex on December 5, 2007, after it had been left vacant for several months and it was auctioned on February 16, 2008.
ASL declined to comment on the liquidation or to say how much money was owing.
Mr Lopas has not been a director of the company since March this year, and the other director, Geoffrey Lopas, resigned in August.
The sole director, who was appointed on October 1, is David Scott Greer, from Christchurch.
Olivers has had a chequered history since its long-time owner, Fleur Sullivan, sold up and left Clyde to set up a new restaurant at Moeraki.
The company that owned Olivers before Mr Lopas, Camand Holdings Ltd, was placed in receivership on June 16, 2006, after the business had been on the market for six months.
Christchurch property developer Jason Lopas and his partner, Geeta Roberts, bought the property for about $1.5 million in August 2007.
Dairy farmer Doug Bickley and his wife Lianne, from Tuatapere, bought the property in February for an undisclosed sum after it was passed in at auction for $1.625 million.
The Bickleys are the present owners, and are in no way connected to the liquidation.
Creditors have until December 24 to make any claims against the insolvency.
