censured by the New Zealand Institute of Chartered Accountants<\/a> in 2023 over what was described as \u201cunprofessional actions\u201d.<\/p>\nThomas has frozen Castle Point NZ\u2019s bank account and issued notices to secured creditors asking for details of their debts and securities, according to his first report.<\/p>\n
The company has a vehicle listed under its assets, although its value was still unknown, and a company bank account holding $4030.56.<\/p>\n
As for creditor claims, two security interests were registered against the company, although Thomas\u2019 report did not identify them.<\/p>\n
Two uncategorised creditors are named, the Public Trust and Alaska Construction & Interiors Auckland, although no amounts were listed as owing to them.<\/p>\n
A spokesperson for the Public Trust confirmed it was not owed any money, and its listing related to corporate trustee work for the client.<\/p>\n
Alaska Construction & Interiors has been approached for comment.<\/p>\n
Thomas was currently determining if there were any unpaid wages, holiday pay, and\/or redundancy pay owed to former employees.<\/p>\n
Thomas was yet to receive a claim from the Inland Revenue Department, although a debt of $38,516.63 was listed as owing for outstanding employer deductions like PAYE.<\/p>\n
No further debts or assets had been identified by Thomas as part of the liquidation, and subsequently, he could not estimate the date of completion.<\/p>\n
Former CEO speaks out<\/p>\n
Despite not opening a location, Castle Point Fitness appointed Liam Brady as chief executive of the company, serving from November 2024 to March 2026.<\/p>\n
Brady was also a director of the company from February 2025 to February 2026.<\/p>\n
According to Brady\u2019s LinkedIn profile, he led the commercial and strategic direction of the brand, focused on sustainable growth and nationwide expansion.<\/p>\n
The Herald contacted Brady to understand his involvement in the company, and he confirmed his previous employment.<\/p>\n
However, Brady claimed his employment ended without a formal process or notice, and he was not paid outstanding entitlements before the business entered liquidation.<\/p>\n
He said he had taken steps through proper legal channels to resolve the situation and was focused on working through that process constructively.<\/p>\n
Brady also claimed the company had secured the New Zealand franchise rights for Planet Fitness.<\/p>\n
In a statement from Castle Fitness NZ provided to the Herald by Thomas, a spokesperson said the company was aware of comments made by Brady.<\/p>\n
\u201cWhile we will not engage in public disputes while the company is in liquidation, we will state that Mr Brady\u2019s recollection of what transpired differ widely from the company\u2019s,\u201d the spokesperson said.<\/p>\n
\u201cFurthermore, he is incorrect about Castle Point Fitness holding the franchise rights of Planet Fitness for New Zealand. This is a false statement.\u201d<\/p>\n
Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.<\/p>\n
Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our Business newsletter<\/a> \u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"The office\u2019s website said the company was established in 2021 (actually incorporated in April 2022) \u201csolely to introduce…\n","protected":false},"author":2,"featured_media":625177,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[64,63,302907,21575,100794,30163,2685,438,82330,302908,1977,38283,21695,538,21694,60298,30527,137,4717,16371,64308,1697,16804,8936,1462,321,8279,316,3605,145884,3205],"class_list":{"0":"post-625176","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-fitness","8":"tag-au","9":"tag-australia","10":"tag-backer","11":"tag-before","12":"tag-castle","13":"tag-chain","14":"tag-chief","15":"tag-company","16":"tag-companys","17":"tag-connected","18":"tag-directors","19":"tag-dispute","20":"tag-executive","21":"tag-fitness","22":"tag-former","23":"tag-gone","24":"tag-gyms","25":"tag-health","26":"tag-in","27":"tag-into","28":"tag-liquidation","29":"tag-nz","30":"tag-open","31":"tag-over","32":"tag-planet","33":"tag-point","34":"tag-went","35":"tag-what","36":"tag-with","37":"tag-wrong","38":"tag-zealand"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/625176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=625176"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/625176\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/625177"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=625176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=625176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=625176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}