A holiday park near Rotorua is in voluntary administration, seven weeks after the owners were ordered to pay $680,000 for exploiting three migrant workers.
A public notice published last weekend said Golden Springs Holiday Park, operating under New Zealand Fusion International Ltd, was in administration.
A creditors meeting was held on Thursday at the holiday park on State Highway 5 near Reporoa.
A Companies Office spokesman said the administrator would "assess and act on the company's financial circumstances as soon as practicable".
The most recent Companies Office records stated Shenshen Guan owned 50 per cent of New Zealand Fusion International shares and Xiaofu Liu owns the rest.
On December 11, the Employment Court fined Guan and the company $680,350 in penalties and unpaid wage arrears for three migrant workers.
The decision stated the money was to be paid to the labour inspector in 28 days.
One staff member said she "wanted to die" when working at the holiday park, it was "just like a nightmare" and another said he felt he was in "a prison".
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The business was ordered to pay $300,000 in penalties and a further $230,350 in compensation.
Guan was ordered to pay a further $150,000 in penalties herself.
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She and New Zealand Fusion were banned from employing staff for 18 months.
When NZME spoke to Guan after the ruling in December, she said the staff did not work under her "direction" and she made it clear they would not be paid until they had visas.
Guan did not respond to a request for comment about the administration notice.
The administrator declined to comment until discussions with creditors were complete.
An earlier attempt at putting the holiday park into administration was rejected by the Companies Office last month after the notice was submitted incorrectly.
What is voluntary administration?
If a company is in difficulty, a suitably qualified, independent administrator can be appointed and a creditors meeting held. This is an opportunity for creditors to decide the company's next move, which may include appointing a liquidator or returning its registered status.
Source: New Zealand Companies Office