Queenstown Health Ltd’s new owner suddenly stopped trading last week and last Friday put the company into voluntary liquidation.
The business offered chiropractic services, physiotherapy, massage therapy and acupuncture.
In a statement, chiropractor Cole Mackie, who took over the health clinic early this year from longtime owner Neki Patel, apologised to patients but said he could not keep the doors open.
"After conducting a full review of the business, I formed the view that continuing to trade was untenable.
"I took the step of placing the company into voluntary liquidation following an extensive review. It was the right thing to do.
"I am now co-operating with the liquidator. The clinical notes and medical records are held securely.
"I do not intend to comment further."
Auckland-based liquidator Bryan Williams confirmed he was in Queenstown when Queenstown Health was placed in liquidation last week.
He said he was limited in what he could say.
"I’m conducting the liquidation process and I don’t have any comment until I get a clearer [picture] and fuller facts."
His first report is due out tomorrow.
One staff member who left two months ago said they had seen the closure coming when they left, but was surprised by the timing.
"From what I heard from other patients there has been no communication, but that’s all I know."
In the past, Mr Mackie has commented on how grateful he was to Dr Patel for encouraging him to buy into his business, starting with a 49% shareholding in April last year.
He told QT Magazine last December: "Neki is an incredibly good chiropractor with an excellent understanding of how this business runs, ensuring all our clinicians share the same core values.
"His mentorship has been invaluable throughout this transition and changeover and he will continue to be a guiding light working in the business."
Dr Patel resigned from the clinic in September ahead of knee surgery.
He said the demise of Queenstown Health, first established in 1983 before he took it over a decade later, was "really saddening", but could not comment further.
In a Facebook post after the clinic doors were shut last week, he said he was fully focused on recovery and planned to return to work when he was "100% fit".
"My thoughts are with the many patients affected and with the staff who worked so hard to support the community."
