Five Boroughs liquidation to leave IRD, staff, suppliers out of pocket

Tue, 30 Jan 2018

By Sophie Boot Jan. 30 (BusinessDesk) - The liquidator for popular Wellington eatery Five Boroughs says employees, the tax department and suppliers owed at least $444,000 will get shortchanged in the administration with a smaller-than-expected return from the residual assets. Glassescases, trading as Five Boroughs, was placed into liquidation this month owing $32,400 to staff in holiday pay, about $360,000 to Inland Revenue, $14,000 to ANZ Bank as an unsecured creditor and $27,000 to suppliers. Liquidator Jessica Kellow of ShephardDu...

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