Unique Fabrics has gone into liquidation. File picture.
Photo: 123RF
Well-known interior design firm Unique Fabrics has gone into liquidation, the latest in a large number of businesses to fold.
It was revealed by Centrix on Wednesday that liquidation numbers remain stubbornly high, even as other credit measures improve.
Hospitality liquidations were up 45 percent, retail trade 32 percent, property and rental 12 percent and construction 9 percent.
Across all sectors, liquidations were up 14 percent year-on-year.
Centrix chief operating officer Monika Lacey told RNZ at the time that liquidations were often a lagging indicator and would take more time to turn around.
McDonald Vague insolvency practitioner Keaton Pronk said the country was on track to have more winding up applications in the first six months of the year that in the whole of 2021 or 2022.
An update from Unique Fabrics online said the news was shared with “heavy hearts”.
Unique Fabrics and Unique Fabrics NZ were being put into liquidation and had ceased trading.
It said it was expected that a liquidation sale of all stock would be held in due course.
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