Poor governance, poor management at Good Spirits: NZSA

Danny Doolans was one of nine outlets operated by GSH. (Image: Hayden Woodward)

Fri, 05 Jan 2024

Good Spirits Hospitality is a salient lesson for shareholders in poor governance and management, the New Zealand Shareholders Association says. The New Zealand stock exchange listed company is being wound up after selling off its assets including Auckland waterfront watering hole Danny Doolans after racking up about $33 million in debt to its largest shareholder. The company’s shares were placed into a trading halt on Wednesday after it told the NZX it had defaulted on its loan facility to 24.99% shareholder Pacific Dawn, a su...

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