Adult entertainment entrepreneur bankrupted

A businessman involved in adult entertainment was adjudicated bankrupt in Christchurch.
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A businessman involved in adult entertainment was adjudicated bankrupt in Christchurch.

A sex shop owner, construction companies and a bar featured in recent bankruptcy and liquidation applications in the High Court in Christchurch  

Adult entertainment entrepreneur, Fritz Petersen, was adjudicated bankrupt on the petition of MediaWorks Radio Canterbury.

A credit controller at MediaWorks said the bankruptcy arose from unpaid advertising for adult entertainment.

Petersen was previously adjudicated bankrupt in 2001 and discharged in 2005.

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More recently, one of Petersen's companies, FritzAms, was found guilty by the Employment Relations Authority of underpaying two sex shop workers in Wellington in December 2016.

At about the same time, he placed FritzAMS in liquidation. The liquidation report said Petersen as the main shareholder "elected to appoint a liquidator after seeking professional advice and having reviewed cash flow projections".  

The company operated several adult accessory stores. In a June report the liquidator said there had been claims of $127,000 and it was too early to say if there would be any recovery of funds.

Companies Office records show Petersen has also been a director of Peaches And Cream Trading, Playhouse Plaza, Bon Consultants and other entities in the entertainment sector. 

Previous media reports linked him to colourful incidents, including his 2009 complaint to police that rival adult entertainment guru Steve Crow had threatened to shoot him.

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Meanwhile, another bankruptcy in the Christchurch High Court was Peter Fitzgerald who was a principal of C J Construction.

Other bankruptcy petitions held over for further hearings involved Anton Summerfield, director and shareholder of AMC Construction which has worked on high profile city projects, builder Martin Codrye​, Kevin Hampton, and Kane McClintock.

Successful applications to liquidate companies included Kidz Paradise Home Based Care, hospitality company Nova Casa New Zealand, Sydenham Investment Company, and building firm Jones & Jones Group.

Liquidation petitions were adjourned for further hearings for JDV Merivale bar, Duchamp Property Group, Concrete Cutting Solutions, Naidu Enterprises, and Elementary Solutions.

 - Stuff

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