Otago-based fertiliser company Healthy Soils has been placed in liquidation, estimated to owe more than $390,000.
The company, which operated from leased premises near Mosgiel, was placed in voluntary liquidation by its shareholders, into the hands of Insolvency Management Ltd, of Dunedin, at the end of last month.
Liquidator Iain Nellies said a memorandum was being prepared to see if there were expressions of interest from any parties to buy the business.
Established in 2007, Healthy Soils was an amalgamation of three companies, Humatech, Folia Feed and Healthy Soils.
The liquidators' first report listed the company's directors as Anthony James Chapman, John Robert Nelson, and Deborah Marie Shuttleworth. The report said the directors attributed the company's insolvency position to the withdrawal of a finance facility.
The company made commitments on the basis of that facility being available, which it was subsequently unable to honour.
There were 12 known secured creditors, 10 known preferential creditors and 89 known unsecured creditors.
It owed $96,892 to preferential creditors and $297,982 to unsecured creditors. The amount owed to secured creditors was to be determined.
The liquidators were continuing to trade in a limited capacity, to complete existing orders and sell remaining stock.
