'Insolvent' PGF-backed timber processor likely heading for liquidation, owing $6m

Tunnicliffe's timber product. (Image: Facebook)

Thu, 30 Nov 2023

Creditors of a Provincial Growth Fund-backed Bay of Plenty timber processor, which owes nearly $6 million, will have the chance to vote on the company’s future next week.In mid-October, Crown Regional Holdings - which operates as the holding company for the Ministry of Business, Innovation and Employment’s (MBIE) regional economic development and investment unit Kānoa – called in Calibre Partners to do a business review of Tunnicliffe Timber Solutions.Operating out of Edgecumbe, near Whakatane, Tunnicliffe processed...

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