A sign featuring Ali Williams makes light of SuperFurn New Zealand's financial woes. Photo / Supplied
Injury stopped Ali Williams from saving the All Blacks' lineout this season - now his star power has failed to safeguard his fledgling furniture business.
Superfurn New Zealand, of which Williams is a 20 per cent shareholder, has been put in liquidation by a US wholesaler, by order of the
High Court.
Liquidator Damien Grant, of Waterstone Insolvency, said Ashley Furniture initially issued a demand for US$42,000 ($58,800), but Superfurn challenged this, claiming US$30,000 of the debt was disputed.
Superfurn was given until September 7 to pay the remaining US$12,000. When they failed to do so, the court ruled the entire debt was due.
At a separate hearing, the court ruled because the company had not paid the debt, the judge had the right to order the immediate liquidation of the company. "Normally the court process would have continued for many more months before liquidation occurred," said Grant. "Superfurn shot themselves in the foot by challenging the statutory demand."
Grant said the company owed its bankers about $600,000 and there appeared to be other creditors owed $411,000. A shortfall of about $800,000 is expected.
Superfurn initially operated from three Auckland stores in Glenfield, Manukau and Mt Roskill. The Glenfield and Mt Roskill stores shut earlier this year of their own accord, while the Manukau store shut recently. Other stores still operational in Henderson, Pukekohe, Christchurch and Rotorua are believed to be only part-owned by the company.
Neither Williams nor fellow director Paul Gapes returned Herald on Sunday calls.
In May Gapes said cost-cutting and Williams' personal involvement had helped keep the company going.
Williams had been instrumental in finding an anonymous Australian investor to help bail out the chain.
The liquidator will hold a clearance sale at the Manukau store, at 8 Cavendish Drive, from 10am today.
