Former staff go without as SPQR liquidation only collects $38,000

Wednesday, 17 June 2026

The liquidation of Auckland restaurant SPQR has only managed to collect around $38,000.

Creditors have been left over $2 million worse off as a result of the popular eateries closure.

With the liquidation now complete, the company will be removed from the register.

Creditors of the now-closed popular Auckland restaurant SPQR have been left over $2 million worse off, with liquidators recovering only around $38,000.

The restaurant on Ponsonby Rd went into liquidation in July 2024 after more than 30 years in business, owing millions of dollars.

SPQR closed after IRD served a statutory demand for tax arrears. The business was unable to pay the debt or negotiate a repayment plan, which saw it enter liquidation.

Its owner, Christopher Rupe, was declared bankrupt in February 2025 on the Insolvency Register and, in April this year, was banned from running a company for eight years.

Now, nearly two years after the closure, the final liquidators' report shows that only $38,947 was recovered to pay creditors.

Out of 70 creditor claims received, ANZ Bank got back the most money in the liquidation, totalling $9855. This distribution was made from the proceeds from the sale of items to which ANZ’s security is attached.

However, the remaining money went to things such as liquidator fees, leaving both former staff and the IRD with nothing.

Inland Revenue had submitted a preferential claim of over $1 million for employer activities and GST arrears.

The liquidators also received 24 claims from former employees for $132,727 in wages owed and holiday pay.

Over $2.3 million remains owed to creditors, including around $1.199 million to preferential creditors, $457,000 to secured creditors, and $664,000 to unsecured creditors.

Two overdrawn shareholder accounts, both under Rupe’s name, were identified, totalling over $1.3 million; however, Rupe confirmed through a statement of financial position that he does not have the means to repay the debt.

In the final report, it was confirmed that the company has no realisable assets and that all proceeds from realisation have been accounted for and distributed.

Liquidators attributed the business's liquidation to a combination of creditor legal action, poor economic conditions, and trading losses.

With the liquidation now complete, the company will be removed from the register.

The liquidation was carried out by Christopher McCullagh and Stephen Lawrence of PKF Corporate Recovery & Insolvency.

First opened in 1992, SPQR became a staple on the Auckland hospitality scene and was often frequented by celebrities, including Mick Jagger.

On announcing the closure in 2024, Rupe said he was“ really sorry for the current situation” and thanked Aucklanders for their love of SPQR over the past three decades.