Patel said the whole sell-down process took 11 days from the date of the liquidation.<\/p>\n
A statement of affairs shows secured creditors are owed more than $1m, including around $550,000 to the Bank of New Zealand.<\/p>\n
Inland Revenue is owed around $425,000 in preferential claims and a further $434,000 in unsecured claims.<\/p>\n
Unsecured trade creditors are owed around $959,000.<\/p>\n
Patel said around $195,000 had been realised through the sale of stock and plant and equipment.<\/p>\n
This allowed for all employees to be paid their final wages prior to liquidation ($7,577.50) and for post-liquidation work performed.<\/p>\n
Food4Less New Lynn went into liquidation in February. Photo \/ Google Maps<\/p>\n
Companies Office records show Romit Prakash is the sole director of the company, which is owned by U & S Chand Investments Limited \u2013 which Romit and Amit Prakash each own a 50% shareholding of.<\/p>\n
Food4Less also has supermarkets in Manurewa, \u014ct\u0101huhu and Hamilton.<\/p>\n
Romit Prakash said the closing of Food4Less New Lynn was \u201cemotional, overwhelming and deeply humbling\u201d.<\/p>\n
\u201cRecently, we received the difficult news regarding the liquidation process. Hearing those words was one of the most confronting moments of my professional life,\u201d Prakash said in a Facebook post.<\/p>\n
\u201cLike many businesses, we have faced challenging circumstances over time \u2013 pressures that built quietly, decisions that carried weight, and realities that eventually could not be ignored.<\/p>\n
\u201cDespite every effort, every long day, every late night and every attempt to find a path forward, we have reached a point where closing is the responsible step.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Patel said the whole sell-down process took 11 days from the date of the liquidation. A statement of…\n","protected":false},"author":2,"featured_media":358001,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[26439,100521,61925,3225,7818,665,51,138,17397,168387,12624,23300,1132,130,117,111,139,69,44236,1560,97,131,61],"class_list":["post-358000","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-26439","tag-29m","tag-61925","tag-according","tag-allegedly","tag-around","tag-auckland","tag-business","tag-creditors","tag-food4less","tag-liquidators","tag-lynn","tag-million","tag-more","tag-new","tag-new-zealand","tag-newzealand","tag-nz","tag-owes","tag-report","tag-supermarket","tag-than","tag-to"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/358000","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=358000"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/358000\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/358001"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=358000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=358000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=358000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}