{"id":338710,"date":"2026-03-20T06:31:09","date_gmt":"2026-03-20T06:31:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/338710\/"},"modified":"2026-03-20T06:31:09","modified_gmt":"2026-03-20T06:31:09","slug":"smartspace-holding-company-ss-holdings-in-liquidation-owing-3m-to-investors","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/338710\/","title":{"rendered":"SmartSpace holding company SS Holdings in liquidation owing $3m to investors"},"content":{"rendered":"

However, business opportunities started to reduce for the company from September 2025 as competition, under-investment and a lack of sales opportunities compounded.<\/p>\n

As a result, the business was sold in November 2025, whereby the full platform was acquired with some employees.<\/p>\n

All employee entitlements and trade creditors were paid in full before the company subsequently ceased trading. <\/p>\n

After selling the business, the company\u2019s shareholders sought professional advice regarding SS Holdings\u2019 financial position and elected to appoint Iain Shepard and Jessica Kellow of BDO Wellington as joint liquidators.<\/p>\n

Money owed<\/p>\n

Shepard and Kellow have identified $10,777 in assets for SS Holdings in the liquidation to date, including $6436 in the company\u2019s bank account and $4341 in the form of GST to be refunded by the Inland Revenue Department.<\/p>\n

A further $28,865 is reported under the book value of the company for office equipment and website development; however, these assets are now owned by the company\u2019s new owners and are therefore unrecoverable.<\/p>\n

SS Holdings currently has no secured or preferential creditors that are owed money, the liquidator\u2019s report said.<\/p>\n

The majority of debt is owed to founder Timothy Boyne, with a current shareholder account of $2,125,533.<\/p>\n

A further $941,906 is owed to safe note investors from its initial capital raise, with creditors listed including Icehouse Ventures and Archangel Ventures.<\/p>\n

Icehouse Ventures chief executive Robbie Paul confirmed the firm had invested $200,000 in SmartSpace\u2019s pre-seed convertible note round in 2024.<\/p>\n

The investment was made out of Icehouse\u2019s Seed Fund 3, a $45m fund that invested in 30 companies.<\/p>\n

Paul said the investment was on the back of the firm\u2019s long-term relationship with Boyne via its investment in Boyne\u2019s other startup, LawVu.<\/p>\n

Archangel Ventures has been approached for comment.<\/p>\n

Other listed creditors include marketing agency Likeable Lab, Craig Wearne and Davey Goode.<\/p>\n

In total, SS Holdings owes creditors an estimated $3,067,439.<\/p>\n

Shepard and Kellow said it was too early to estimate a date of completion and dispensed with a meeting of creditors.<\/p>\n

Boyne has been approached by the Herald for comment.<\/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":"However, business opportunities started to reduce for the company from September 2025 as competition, under-investment and a lack…\n","protected":false},"author":2,"featured_media":338711,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[96838,9556,138,1288,1656,49063,1138,2740,311,305,21666,85915,90907,78,8454,9557,296,321,2845,2739,1132,130,111,139,69,26693,26692,9769,21940,3545,181257,181258,131,165,61,12806,14301],"class_list":["post-338710","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-3m","tag-artificial","tag-business","tag-capital","tag-company","tag-companys","tag-firm","tag-former","tag-founder","tag-have","tag-holding","tag-holdings","tag-icehouse","tag-in","tag-including","tag-intelligence","tag-into","tag-investors","tag-leaving","tag-liquidation","tag-million","tag-more","tag-new-zealand","tag-newzealand","tag-nz","tag-owed","tag-owing","tag-owners","tag-placed","tag-platform","tag-smartspace","tag-ss","tag-than","tag-their","tag-to","tag-venture","tag-ventures"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/338710","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=338710"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/338710\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/338711"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=338710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=338710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=338710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}