Jewellery business fights for survival
A Manawatu jewellery business which opened nearly 30 years ago has lost its shine, with nearly half a million dollars of debts forcing it into liquidation.
Manawatu Manufacturing Jewellers, established in 1985 and owned by Ross and Julie Bailey, was placed into liquidation by order of the High Court last week.
While the first liquidators' report had not yet been released, the company was in the High Court in Palmerston North earlier this month trying to stave off liquidation.
Associate Judge David Gendell said the company had about $480,000 of debts, $109,000 of that being income tax.
The company had also not paid any income tax since December 2009.
The company's lawyer, Peter Thomson, said it had been trading without employees for three years. He asked Judge Gendell for a month's leave to try to arrange payment of the debts.
Mr and Mrs Bailey were unable to be contacted, but according to the Manawatu Manufacturing Jewellers website they had owned the business since 2006.
Mr Bailey had worked in the business for five years before purchasing it, and specialised in making one-off pieces.
A quote attributed to the couple on the website outlined their goal for the business.
"Our vision is for MMJ to be recognised as the best workshop to the trade in New Zealand, and with the help of our valued clients and amazing staff, we will achieve this."
- © Fairfax NZ News
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