A national freight company has gone under, leaving at least 150 people without jobs and more than 1000 creditors with no idea when or if they will get paid.
Liquidator Jeff Meltzer, of Meltzer Mason Heath, said yesterday that Phoenix Freight had gone into voluntary liquidation, leaving 143 staff "technically redundant".
Auckland was the hardest hit, with 62 jobs lost, followed by Wellington, with 32 staff let go.
In Christchurch, 26 staff and seven owner-drivers are collectively owed more than $150,000 in arrears.
Phoenix was set up in Auckland in 1983 on a small scale but grew to have a national network that delivered to 273 New Zealand towns and cities.
Mr Meltzer said he was appointed by Phoenix on advice from its own lawyer.
"While I was appointed by shareholders ... my role is to work for the employees and owner-drivers and those that are creditors of the company," he said.
Phoenix shareholders told Meltzer they had poured money into the business since buying it in October 2003 but the loss of a major customer late last year meant it was no longer feasible to keep the business running.
Mr Meltzer said he hoped to have a first report to creditors by the end of the week, giving them an indication of how much was owed in total and what percentage they could expect back.
"That will give indicative figures from the information we've been able to glean from the company records," he said.
It will be an anxious wait for Christchurch owner-drivers Brian and Joy Terris, who were banking on the earnings for their upcoming retirement.
For the couple - also business partners in the truck which Mr Terris drives - the liquidation has a sense of deja vu.
The collapse of Phoenix is the fourth time Mr Terris has been working for a company that went bust, and he has been left out of pocket each time.
- NZPA
