Auckland fine dining restaurant Augustus Bistro owes creditors more than $660,000

Augustus Bistro is now closed until it finds a buyer. Photo / Nick Reed

Failed Auckland fine dining restaurant Augustus Bistro owes creditors more than $660,000, according to the liquidator's first report.

The French restaurant, located in the former Post Office building in Ponsonby, was put into liquidation last week and Staples Rodway's Tony Maginness and Jared Booth were appointed liquidators.

The restaurant is temporarily closed until CCMR Ponsonby Post Office Limited finds a new buyer to takeover the business.

Booth told the Herald liquidators had received several offers and were now going through the sales process.

Liquidators are working to identify assets to pay secured creditors including Westpac Bank and 17 suppliers.

CCMR Ponsonby Post Office Limited owes Westpac Bank $61,312 and employees an estimated $30,000.

Unsecured creditors such as trade creditors, shareholder loans and Bank of New Zealand are owed a combined $573,064.

"During the course of the liquidation we expect to receive claims from creditors and we are currently dealing with secured claims at the moment," Booth said.

"We don't know how much we're going to realise the assets."

August Bistro is listed for sale on ABC Business Sales and with Bayleys for $600,000, and is said to make sales in excess of $3 million each year.