Dozens of jobs lost with Boxing On

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The men behind failed Hamilton packaging company Boxing On say they entered the business to try to rescue it.

The company was taken over in February this year by former All Black captain David Kirk, former chief executive of Independent Liquor Doug McKay, former head of group publishing for Fairfax Rodger Shepherd and Arthur Blathwayt.

Receivers were called in on Friday, March 12, and the 37 employees told not to turn up to work the following Monday.

Sources said staff were told the company would continue operating under new ownership, but it is understood receivers are in negotiations with Carter Holt Harvey to sell off its assets and client list.

Mr McKay was also chief executive of Carter Holt Harvey's packaging division in the late 1990s.

Mr Shepherd said the four men got involved with the business at the last minute.

"We wanted to see if we could rescue it and if we could do anything with it. We put a little bit of money into it to try and keep it going, but it just wasn't profitable. We think it's been struggling for quite a while."

He said the four were interested in businesses like Boxing On to see if they could gain something out of them or "fix them up". They had only been involved for one or two weeks. The four bought the business from Andrew McClymont.

Companies Office records list Mr Blathwayt and Mr Shepherd as directors of Boxing On Ltd, in receivership, while Boxing On Holdings is a shareholder in the company, listing Mr McClymont, Mr McKay and Mr Shepherd as directors.

Mr Kirk, Mr Shepherd, Mr McKay and Mr Blathwayt are listed as directors of Boxing On Management Ltd.

- © Fairfax NZ News