Former PK Furniture owner chased over $4.6m debt

PK Furniture went into receivership last year and has since been bought by new owners. / File Photo.

The former boss of the PK Furniture chain is being chased by Bank of New Zealand over a $4.6 million debt.

Jing Huang was the director of Greenmark Wholesaler, which ran 17 North Island PK Furniture stores before going into receivership in May owing its creditors $22 million.

The chain was sold to new owners, which now run a handful of the stores.

BNZ had a credit facility with Greenmark, which Huang and his family trust guaranteed.

Around $6m was owed as of July last year and the bank forced the sale of a house the trust owned in the Auckland suburb of Dannemora for $1.5m.

Despite formal demands to Huang and the trust, more than $4m is yet to be paid and BNZ headed to the High Court to get judgment against him.

Huang was not represented in the legal action and is believed to be in China.

Justice Mark Woolford, in any event, said there was no defence to the bank's claim and ordered Huang and the trust to pay $4.6m.