Richmond pub Rob Roy's has gone into liquidation and closed.
The family restaurant and bar was run by former Christchurch couple Aaron and Kirsteen Guy.
Their company Aarteen Beamer Ltd has been placed in liquidation with creditors given until March 10 to lodge their claims.
Liquidator Geoff Falloon's first report shows creditors are owed $325,000, including the business's bank, the Inland Revenue and staff.
The 12 staff learned on Tuesday that they had lost their jobs.
The Guys previously ran Rob Roy's Public House in Sydenham which was damaged in the Christchurch earthquakes.
They opened the Richmond business in November 2011, leasing the Queen St premises from the Tasman District Council.
The council had bought the property including car parking, which neighbours its Richmond headquarters, for $2 million.
El Taverna restaurant and bar previously operated from the premises but closed in 2010.
Council property services manager Jim Frater said yesterday the council had bought the property because it was a strategic asset adjacent to its site, which gave it some options for the future.
However, he understood that there was still a chance that a business might trade again under a different name.
"I think there is still a place for a bar in that building and I would like to think somebody with fresh ideas can come in and get it going again," said Mr Frater.
The liquidator's report shows an estimated deficit of $74,000.
The company has estimated assets of $251,000 but owes secured creditors $164,000, preferential creditors - staff and IRD - $127,000 and unsecured creditors, which includes a range of Nelson businesses, $33,856.
Mr Falloon said he initially continued the business's trade for just over a week while he looked for a purchaser but it had a significant loss that week so could not continue, and he closed it after lunch on Tuesday.
The business would be advertised for sale.
"Hopefully someone will come in and put their own mark on it. It's a good site and a good number of people love going there. The idea is to get it up and cranking again."
- The Nelson Mail
Do you agree with the city council's decision to put a 30-minute limit on buskers' performances?Related story: (See story)