Invercargill's iconic Kings seafood restaurant has been placed into liquidation.
Owner Robyn Waddel told The Southland Times that difficult economic times and co-owner and partner Jim Wardrop's illness had both contributed.
The restaurant had not opened since July 20, and was yesterday placed into liquidation, at the request of the Inland Revenue Department.
Southland Chamber of Commerce chief executive Richard Hay told the newspaper the economic recovery was slower than expected, which had affected the hospitality industry.
"People are overly cautious and concerned about spending money and their priorities have somewhat changed to just getting the basics. That's certainly hit the food and beverage industry very hard," he said.
