Auckland’s SPQR restaurant closed owing over $2 million to IRD, staff and creditors
Thursday, 18 July 2024
SPQR closed down owing more than $2 million to staff and the IRD.
The iconic Auckland restaurant closed last week after operating for over 30 years.
The liquidation report said the business ran into issues at the start of the Covid-19 pandemic.
SPQR went into liquidation owing more than $2 million to creditors and staff.
The iconic Auckland restaurant announced its closure last week after over 30 years operating on Ponsonby Road.
The liquidation report released on Thursday by PKR Insolvency showed that the business closed down with more than $2m owing to the IRD, staff and other creditors.
The report said SPQR owes the IRD $1,484,423 in payroll taxes and GST, while staff are owed $144,664 in wages and holiday pay.
Unsecured creditors, including Auckland Council, Genesis Energy and Asahi are also owed over $616k.
Christopher McCullagh and Stephen Lawrence of PKF Corporate Recovery & Insolvency are carrying out the liquidation.
The report said the closure of the restaurant came after the IRD had served a statutory demand on the business for tax arrears.
It added that the business was unable to pay the debt or negotiate a repayment arrangement, and as a result, the IRD served a liquidation application.
The liquidators say they intend to sell SPQR’s assets, including kitchen equipment, dining furniture, and a small amount of food and beverage stock.
According to the company’s director, the restaurant started experiencing financial difficulties at the start of the Covid-19 pandemic in 2020.
On announcing the closure last week, owner Chris Rupe said he was “really sorry for the current situation” and thanked Aucklanders for their love of SPQR over the past three decades.
“Thanks for much for your understanding, Aucklanders. I know you loyally share the love I've had for SPQR for the past 27 years,” he told Stuff in a statement.
“In the meantime, please spread your patronage around other locally owned hospo businesses and show your support for the challenging but highly rewarding job they do.”