Rupe has since been declared bankrupt and banned from running a company for eight-and-a-half years for alleged mismanagement that led to SPQR’s demise.
In their final report into the company, liquidators Christopher McCullagh and Stephen Lawrence of PKF Corporate Recovery & Insolvency confirmed there were no further recoveries available for distribution and the company would be removed from the register.
ANZ Bank, which held a first-ranking general securities agreement (GSA), received $9855 from its claim of $263,557 in relation to overdraft facilities, credit card and merchant fees.
Prospa held a second-ranking GSA over the company’s assets and submitted a claim for $93,460.54 concerning a loan.
Eight other claims were made by secured creditors totalling $100,210.
Inland Revenue submitted a preferential claim of $1,066,868 for employer activities and GST arrears.
The liquidators received 24 claims from the company’s employees – classed as preferential – for $132,727 in outstanding wages and holiday pay.
However, McCullagh and Lawrence said no funds were available for distribution to preferential creditors.
There were a further 35 claims from unsecured creditors totalling $664,311.
The liquidators said they realised $26,304 from the sale of the company’s fixed assets comprising kitchen equipment and dining furniture.
What happened to the $1.3m overdrawn account?
McCullagh and Lawrence identified two overdrawn shareholder current accounts with a total value of $1,383,176.
Both were in the name of Rupe, with one under a family trust of which Rupe was the sole director and shareholder.
The liquidators said demands were made in relation to the shareholder current accounts.
“One of the debtors, Mr C Rupe submitted a statement of his financial position to confirm that he does not have the means to repay the debt. Mr Rupe has since been declared bankrupt,” the report said.
“The other debtor is a family trust related to Mr Rupe.
“We were advised that apart from shares in the company [SPQR Limited], the trust does not own any assets, and the only trustee of the trust was a company which has now been struck off the register.”
Former SPQR owner and director Chris Rupe. Photo / Dean Purcell
‘Really sorry’
SPQR shut its doors in July 2024 after 32 years in business.
Originally owned by cinematographer Stuart Dryburgh and film-maker Dorthe Scheffmann in 1992, Rupe bought SPQR in 1998 with Paula Macks, according to Viva.
After the announcement of its closure, Rupe released a statement saying he was “really sorry for the current situation”.
“Thanks so much for your understanding, Aucklanders. I know you loyally share the love I’ve had for SPQR for the past 27 years.”