Whanganui riverboat tourist business Baldwin Adventure Tours in liquidation

Skipper Robert "Baldy" Baldwin has walked away from his interests in the Baldwin Adventure Tours business. Photo / Stuart Munro

Whanganui riverboat tourism company Baldwin Adventure Tours is in liquidation.

An application to liquidate it was made by Terrence "Bob" Harris, one of its two directors and was heard recently in the High Court at Whanganui.

The owners were Harris and riverboat builder and skipper Robert "Baldy" Baldwin. Joseph Ebben was a fellow shareholder.

Baldwin had lost heart with the business, and decided to chance his luck on another riverboat.

Their Adventurer II riverboat has twice made it all the way from Whanganui to Taumarunui. The original plan was for it to operate mainly in the middle reaches, but there have not been many bookings and the boat has been vandalised.

Now it needs a survey, and money spent on it.

The liquidator was the Official Assignee in Hamilton, an Insolvency and Trustee Service spokesperson said. Their job was to realise the assets of the company and use the proceeds to pay out any creditors.

One of its assets is the boat itself, aground at low tide on mud adjacent to the Settlers' Wharf in Whanganui.

The first report on the liquidation's progress will be on the Companies Office website on December 4.