The Terrace Bar Ltd, which operated the CBK restaurant and bar, or the Terrace bar as it was previously known, was put into liquidation on Tuesday by its shareholders.
It was closed after the liquidation but will open at the weekend to honour bookings.
Documents show the shareholders to be John and Kim Macdonald.
Mr Macdonald declined to comment when contacted yesterday.
Liquidator Emma Laing said yesterday she had only just started going through the business but confirmed CBK had wanted to honour the bookings made for the weekend.
CBK is a series of six similarly themed bar-restaurants throughout the country.
Ms Laing said with a university graduation ceremony in Dunedin tomorrow the restaurant had many bookings and the CBK franchise owners did not want to let them down.
She said staff would appreciate the work and Mr Macdonald had been invited to manage the operation during the weekend.
She said CBK was considering taking over the Dunedin operation but it was early days.
Ms Laing said it was too soon to talk about the details around money owed.
Last month, Inland Revenue had applied to the High Court to put The Terrace Bar Ltd into liquidation.
A hearing was set for April 16 in the High Court at Dunedin but did not go ahead with both parties still talking.
A statement of claim presented in the High Court said a total of $430,779.52 was owed by The Terrace Bar Ltd to Inland Revenue.
This was made up of $74,230.29 around GST, $356,489.23 around employer activities and $60 for income tax.
Last November, The Terrace Bar Ltd was served with a statutory demand under the Companies Act of $367,540.43. The statement of claim said the company failed to comply with the statutory demand and was insolvent.
The defendant was insolvent and unable to pay its debts. In the circumstances it was just and equitable that the company be placed in liquidation.
The Terrace Bar has been operating in the Octagon for more than 20 years, although it changed to CBK more than five years ago.
Mr Macdonald told the Otago Daily Times last month the issue related to some historical tax debt that went back to Covid times.
