TravelPharm Group Limited has been placed into liquidation.
The company, which appears to operate TravelPharm retail health stores, was placed into liquidation on September 25 following an Auckland High Court hearing.
A creditor applied to have the company liquidated.
Steven Khov and Kieran Jones of forensic accountancy firm Khov Jones have since been appointed as liquidators.
Khov told the Herald the liquidators were in the early stages of their investigations and did not know how much money TravelPharm Group owed the creditor or its trading status.
Liquidators were seeking to make contact with company director Yoon Joo Song.
According to the TravelPharm website, the retailer has five stores located airside, landside and in the domestic terminal at Christchurch Airport, and two in Queenstown, including one under the name Beecology.
In November last year, Auckland Airport TravelPharm Limited, which operated the retailer's three Auckland Airport stores, was placed into liquidation, three months after it closed down the stores.
At that time, liquidator Baker Tilly Staples Rodway said TravelPharm was losing money as a result of a decrease in sales which resulted in the liquidation.
It said increased competition with other duty-free stores selling the core products sold by TravelPharm - such as Manuka honey, skincare and health supplements - at Auckland Airport had reduced the company's sales by 50 per cent.
A creditor also applied to have that entity liquidated.
Companies Office records show Auckland Airport TravelPharm Limited former director Yoon Joo Song is also the director of TravelPharm Group Limited.
Song is also the director of another associated entity listed under the same name.
The Herald has contacted Song for comment.
TravelPharm's website lists some of its suppliers as Wild Ferns, Linden Leaves, Trilogy and Antipodes and says it has 10 airport stores, sells 5000 products, employs 200 staff and has been established for 20 years with operations in New Zealand and Korea.
Khov said he had not yet been able to verify if that information was correct - or if the entity was operating TravelPharm stores.
"I would assume that they are related because I am aware that there was one TravelPharm that went into liquidation last year," Khov said.
"[TravelPharm Group Limited] was put into liquidation by a creditor that supplied product to the company and was never paid for it. Our investigations are just starting because we were appointed by the High Court.
"We have no information, we don't have any financials, we're having to start the investigations from scratch," he said.
"Our initial inquiries with the director were referred to his accountant, who said the company has not traded. We've gone back to the director and accountant with more questions."
The business started as coin-operated massage chairs in airports, but two years later TravelPharm was established. As of December 2017, the chain employed more than 170 people and in the past decade the group's turnover had grown from $1 million to $37m.