By TRACEY ROXBURGH
Despite attempts, the liquidator of a Frankton cafe hasn’t been able to find anyone to take over its lease and assets.
Morriesons Cafe Bar Since 1995 Ltd, which traded as Evoque Cafe & Bar at Remarkables Park, pulled pin on November 18 last year and was put into liquidation by a special resolution of shareholders that day.
Director Vijaysingh Chauhan advised the company failed due to reduced turnover caused by Covid-19.
In his second report, liquidator Garry Whimp says there’s been no realisations or payments between November and May this year.
He’s valued fixed assets at $16,460.
‘‘The liquidator has attempted to find a party to buy assets and renegotiate a lease with the landlord,’’ his report says.
‘‘He has been unsuccessful to date and will now sell the assets separately from the business.
‘‘Trading conditions in Queenstown have been uncertain due to the effects of Covid-19.
‘‘Interested parties have been reluctant to sign a lease, even at discounted terms.’’
Whimp says his investigation’s found nothing that could eventuate in a benefit to creditors.
A secured claim, totalling $1264, was received from SmartPay which collected the secured item from the premises.
The Inland Revenue Department’s the only preferential creditor, claiming $42,575 — no dividend’s been paid to it yet — while a total of $83,337 has been claimed by seven unsecured creditors.
But, Whimp says, it’s unlikely there’ll be a distribution made to any of them.