A group of companies trading under the CEA banner - owning 20 mainly southern hotels and bars, and employing about 300 people - have been placed in the hands of receivers.
Details issued about 5pm yesterday by the receivers, McGrath Nicol Partners in Auckland, were sparse and did not include
a list of the 20 hotels.
It is understood several Otago bars are under the CEA umbrella. They include the Speights Ale House and Shooters Bar in Wanaka and the Frankton Arm Tavern in Queenstown.
Andrew Grenfell of McGrath Nicol said the four companies - CEA Trading, CEA Staff Employment Services, CEA Services NZ and CEA Property - were placed in receivership by an unnamed secured creditor for an unspecified amount.
He said it would be "business as usual" for the companies while receivers liaised with employees, customers, suppliers and regulatory authorities "to ensure minimal disruption to operations".
A spokeswoman for the receivers declined to give any further details, and another said a list of affected hotels was not being supplied immediately "to preserve the value of the whole group and the 300 jobs affected".
- OTAGO DAILY TIMES
