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Clothing brand Kia Kaha put into liquidation
27
Aug '11
New Zealand-based clothing brand Kia Kaha has been put into liquidation after it failed to pay its tax bills.

The High Court at Palmerston North accepted the request of the Inland Revenue Department (IRD) to wind up the company known for its Maori designs.

Kia Kaha, known for its association with Kiwi golfer Michael Campbell since 2003, ran into debt of NZ$ 198,613, which included NZ$ 137,398 in GST and NZ$ 34,968 in PAYE.

A repayment plan put forward by Kia Kaha was rejected as its previous such plans had failed.

The company is bankrupt with its liabilities of NZ$ 2.5 million far exceeding its total assets of NZ$ 416,000.

A few months earlier, the firm had escaped liquidation as it settled out of court a debt of NZ$ 33,000 with a Fijian company.

Jeremy Morley and John Fisk of PricewaterhouseCoopers, who have been appointed liquidators, will take further decisions about the company, including about the jobs of its four staff members.

Fibre2fashion News Desk - India


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