“We’ve poured our souls into this business, fighting through three major weather events and the unprecedented challenges of Covid-19 with brave faces and unwavering determination.
“We fought as hard as we possibly could, driven by our passion for cheese and our commitment to you, our incredible customers.”
Geoffrey Falloon of Biz Rescue was appointed liquidator of Cranky Goat Limited on August 31.
In his first liquidator’s report, Falloon detailed the reasons for the company’s liquidation, as advised by its directors.
In 2022, the directors had moved the home-based business to a large factory premises in Blenheim due to Covid, weather events and change of goat milk supplier.
However, the following year the cost of the lease doubled, putting a strain on the business.
Cranky Goat struggled to meet demand around Christmas 2024 due to a lack of production and procurement planning, and its costs began to spiral.
Creditors face an estimated shortfall of $102,413, according to the liquidator’s report.
The company owes unsecured creditors more than $250,000.
A further $13,000 is owed to secured and preferential creditors, which includes Inland Revenue.
The book value of its assets, including land and buildings, plant and equipment, and vehicles, was estimated at around $161,560.
Creditors include Heartland Bank, ANZ, Silver Chef Rentals, Big Chill Distribution, Spark and ACC.
It’s the second South Island dairy company in as many weeks to be placed into liquidation after South Canterbury’s Denheath Desserts suffered the same fate.
Denheath made custard squares, profiteroles and cheesecakes.
The family-owned manufacturer has sold its products in more than 53 Costco outlets in New Zealand, Australia, Korea and Japan.
The first liquidator’s report for Denheath Corporation is due on September 25.
