Nanogirl Labs Ltd owes Inland Revenue more than $260,000 and is unlikely to be able to pay any of its unsecured creditors, its liquidators say.
The company — founded by Michelle Dickinson and her husband Joe Davis — was placed into liquidation last November.
Dickinson told RNZ at the time that a tough business environment was behind the decision.
Government funding had also been cut.
It had provided science live shows, education and STEM kits to children for eight years.
Dickinson told RNZ last November that revenue sources had “dried up”.
The biggest set back was the cut to MBIE’s $1.6 million Curious Minds funding, which supported community science programmes.
Nanogirl also received funding from other government departments, including the Ministry of Education and MFAT which had been undertaking science curriculum work in the Pacific.
All had been cut by the Government, she said.
Liquidator Digby Noyce, from RES Corporate Services, said in his second report that all employment contracts were terminated when he was appointed, but some staff were contracted to perform the remaining birthday party bookings.
The report said the business had a cash balance of $11,769 and the equipment and stock had no realisable value.
“We have received a preferential creditor claim from Inland Revenue for unpaid GST and employer activities taxes amounting to $267,028.42.
“Our present view, based on information received to date, is that it is uncertain whether a distribution will be available for preferential creditors, however recovery actions through insolvent transactions or other remedies may bring in additional funds, although it is still too early to express a view on such matters.”
Noyce had received claims from unsecured creditors amounting to $191,680.
But he said, based on information to date, it was unlikely that a distribution would be made to those creditors.
rnz.co.nz
