Milk firm in hands of receiver

Last updated 10:05 11/03/2014

Relevant offers

Dairy

Council under fire for farmer's big fine Dairy farm sale prices hold Contract milking couple's farm ownership goal Less-gassy cows could soon be on farms Agreed liveweight targets key to well-grown heifers Debt a big hurdle to breaking even Robotic milkers not answer to 'fatigue' Dairy bounce-back tipped after GDT auction Yashili factory promises 'dramatic' flow-on effect A big herd: Dairy cattle numbers on rise

A South Canterbury-owned milk supplier, Klondyke Fresh, has been put into receivership.

Klondyke Fresh was a milk manufacturer as well as a chilled sales and distribution business, with 35 staff and its head office in Hornby.

The company's website states that Nigel Gormack, Richie Smith, Graeme Brown and Alister Woodley are the owners and directors.

Brown, former South Canterbury Finance chief financial officer, was also Klondyke's managing director.

Smith is a professional director and was one-time chairman of NZ Dairies Ltd, which was bought out by Fonterra. Gormack is a partner in accounting firm Quantum Advantage, while Mr Woodley owns Woodley's Transport.

Receivers from BDO Christchurch were appointed last week. Finance statements at the Companies Office say Klondyke's secured creditors appear to be Fonterra and Westpac.

Ad Feedback

- The Timaru Herald

Comments

Special offers

Featured Promotions

Sponsored Content