Insolvent Gisborne logging company owing $1.7m could not pay creditors
Gisborne Logging Company’s Collapse: A Warning Sign for the Industry? The recent liquidation of a Gisborne-based logging company, owing a substantial $1.69 million to creditors, highlights growing vulnerabilities within the forestry sector. Liquidator Lee Humphreys attributed the failure to a combination of factors: inadequate tax accounting and income losses stemming from adverse weather conditions, specifically … Read more