The demise of Wanaka Ale House Ltd, formerly trading at 155 Ardmore St, has left creditors nearly $360,000 out of pocket.
In their first report, liquidators Paul Jenkins and Iain Nellies, of Insolvency Management Ltd, of Dunedin, said the restaurant and bar owned by Stephen John Laing traded from leased premises until being placed in receivership in March 2013, on the application of the Bank of New Zealand.
The receivers traded the company until June 2013 when the business and its assets were sold.
The liquidator's report said Mr Laing was recently adjudged bankrupt.
There are seven known secured creditors, including the Invercargill Licensing Trust, one known preferential creditor, Inland Revenue, and 50 known unsecured creditors.
Creditors have until Friday to make a claim.
The liquidators consider it unlikely a dividend will be payable to creditors ''However, this will not be confirmed until a full examination of the company records has been undertaken,'' the report said.
The liquidation is expected to be completed by March next year. The statement of financial position shows the company has no assets.
As preferential creditor, Inland Revenue is owed $99,451 but it is also among the list of unsecured creditors owed a total of $258,897.79.
The amount owed to secured creditors had yet to be determined.
