Approximately 35 staff of Waiheke Island ferry service Explore were made redundant last week, group managing director William Goodfellow confirmed today.
The service will make its final journey on Sunday, May 8.
A number of efforts to help save the service failed.
It was not viable to keep the business going, Mr Goodfellow said.
"We are making every possible effort to find everyone a job, whether it is in other parts of our business or elsewhere. There is a shortage of seaman and maritime staff, so I am confident our talented staff will find work."