{"id":26959,"date":"2025-09-17T02:34:07","date_gmt":"2025-09-17T02:34:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/26959\/"},"modified":"2025-09-17T02:34:07","modified_gmt":"2025-09-17T02:34:07","slug":"failed-bnpl-service-laybuy-sinks-into-liquidation-7-6-million-recovered-in-customer-payments","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/26959\/","title":{"rendered":"Failed BNPL service Laybuy sinks into liquidation, $7.6 million recovered in customer payments"},"content":{"rendered":"

The report detailed distributions made to creditors so far by the receivers.<\/p>\n

Kiwibank, who is a secured creditor and tipped Laybuy into receivership, is still owed $351,000 from the sum of $8.5m.<\/p>\n

The receivers said they expected Kiwibank to be repaid in full.<\/p>\n

Preferential employee claims of $336,000 remain outstanding. So far, $262,726 had been paid in wages and salaries.<\/p>\n

A debt of $70,000 to Inland Revenue has been paid in full.<\/p>\n

The receivers said $7.6m had been recovered in outstanding payments from customers via the operating platform.<\/p>\n

Remaining overdue customer amounts have been referred to a third-party collection agency, and efforts to recoup money continue.<\/p>\n

Receivers said more than $874,000 had been realised from the sale of the company\u2019s assets, which includes the sale of its operating platform to Swedish payments giant Klarna last year<\/a>.<\/p>\n

The report also said proceeds from a cyber security insurance claim had been received, however, were not detailed due to this occurring outside the period of the report.<\/p>\n

\u201cIt is expected that the secured creditor will be repaid in full and a distribution to preferential creditors may be able to be made,\u201d the receivers said. \u201cOnce this has occurred, we will look to retire as receivers.\u201d<\/p>\n

In April, the Herald reported that Laybuy had relaunched in New Zealand<\/a> under Klarna.<\/p>\n

Laybuy founder and former chief executive Gary Rohloff was responsible for spearheading the relaunch as Klarna\u2019s head of Australia and New Zealand.<\/p>\n

Rohloff said last year he was \u201cheartbroken\u201d at the decision to request the appointment of receivers.<\/p>\n

Klarna has around 111 million active customers in 26 countries, with three million transactions a day.<\/p>\n

Laybuy had an estimated customer base of 500,000 customers in New Zealand.<\/p>\n

Cameron Smith is an Auckland-based business reporter. He joined the Herald in 2015 and has covered business and sports. He reports on topics such as retail, small business, the workplace and macroeconomics.<\/p>\n","protected":false},"excerpt":{"rendered":"The report detailed distributions made to creditors so far by the receivers. Kiwibank, who is a secured creditor…\n","protected":false},"author":2,"featured_media":26960,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[26819,1558,26792,138,6852,12513,2219,78,296,13419,685,9933,26817,2739,1132,111,139,425,69,1653,26820,8694,2552,7811,26818,5977,379],"class_list":["post-26959","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-26819","tag-been","tag-bnpl","tag-business","tag-customer","tag-failed","tag-gone","tag-in","tag-into","tag-june","tag-last","tag-later","tag-laybuy","tag-liquidation","tag-million","tag-new-zealand","tag-newzealand","tag-now","tag-nz","tag-payments","tag-receivership","tag-recovered","tag-service","tag-since","tag-sinks","tag-which","tag-year"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/26959","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=26959"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/26959\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/26960"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=26959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=26959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=26959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}