Liquidators detailed total assets valued at $22,086 at the time of the first report, with $21,192 in vehicles and $894 in cash at the bank. They could not disclose the book value of stock or plant and equipment.
As for liabilities, preferential and secured creditors are owed an interim total of $828,019.
Of that figure, $348,574 is owed to Inland Revenue, $189,629 is owed to LC Business Loans, and $285,000 is owed to BNZ.
A further $3297 is owed to employees in holiday pay, but the amount owed for employees’ wages is unknown at this stage.
As for unsecured creditors, Inland Revenue is owed a further $16,915, with any penalties or interest not recorded.
Trade creditors are owed the bulk of unsecured claims, totalling $603,669, with $91,490 owed to customers who have not received stock that has been paid for.
At this stage, Sportclub owes an estimated $1,540,093 to creditors from all classes.
The first report details 291 creditors of the company, including AS Colour, Mainfreight, Meridian Energy, New Zealand Rugby League, and 28 schools across the country.
Khov and Jones said it was too early to estimate a date of completion for the liquidation.
The Herald has approached Richard Goodall for comment.
Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.
Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our Business newsletter – your essential weekly round-up of all the business news you need.