"Kaitiaki Adventures Rotorua Limited ceased trading last month with an asset and brand sale to assist in clearing debt to the creditor - the Inland Revenue Department. Kaitiaki Adventures Rotorua Limited was unable to dispose of a house in Christchurch in a timely fashion due to a further rezoning of the property, in order to avoid the timeline of liquidation. This asset sale would have completely alleviated any and all debt that was owed to the Inland Revenue Department," he said in a statement.
He said some of the company's 15 employees had been retained by the new owners, while the others had found new employment.
"We were able to place our amazing staff into other vacancies among the local and national tourism sector."
Mr Wright said trips would continue to run in Rotorua in rafts bearing the name Kaitiaki Adventures, but they were now owned and operated by Rotorua Combos. He said he had no involvement with Rotorua Combos.
Last Thursday, daily deal website GrabOne offered a half-price deal with Kaitiaki Adventures that included white water rafting and a photo CD pack. The GrabOne website showed 345 people bought the deal, redeemable until March 10, 2013. Mr Wright confirmed that offer was placed by the new owners and coupons would be valid.
A court-appointed liquidator now has control over all Kaitiaki Adventure Rotorua's unsecured assets, which will be sold to cover debts. Any employees owed wages and holiday pay will have priority.
Mr Wright said his company wanted to thank agents and suppliers who had supported them through a "trying time".