Playboy store goes bust

Aucklanders Nicky Watson and Michaiah Simmons at the Sylvia Park opening. Photo / Bradley Ambrose

With his Playboy mansion and Bunnies on tap, Hugh Hefner must be the envy of millions of men around the world.

But the chance to buy into his luxury lifestyle failed to arouse sustained interest in New Zealand and Auckland's much-hyped Playboy concept store has closed after less than three years.

The store at the Sylvia Park was just the eighth Playboy Concept Boutique in the world.

Launched by Australian designer Christopher Chronis, under licence from Playboy Enterprises, it opened amid much fanfare in April 2007 selling Playboy-labelled lingerie, evening wear and other accessories.

Opening celebrations included models dressed in Playboy gear, a DJ and breakdancers alongside Kiwi celebs including Nicky Watson and Brendan Cole.

Hefner's daughter, and former Playboy chief executive, Christie, dropped in the following February and told the Weekend Herald the store was hugely successful.

Now it's gone and the company, PBY New Zealand, is in voluntary liquidation. According to the first report by liquidator McDonald Vague, there are debts of more than $166,000.

Chronis did not return calls, but the report says there were no assets and blamed the store's failure on the "parent company's unwillingness to provide continued financial report".

Chronis is the sole director of that parent company, Australia-based Global Designer Brands.

Another of his New Zealand business interests, a store at Sylvia Park called Christopher Chronis that sold designer women's clothing, was also placed into liquidation in February, with debts of more than $91,000.

Chronis told liquidators there were no assets in that company either.

The liquidator said they were investigating the affairs of both companies and trying to recover financial records.

Reports say the Playboy brand is struggling internationally.

Shareholders are trying to sue Hefner over claims he supports his extravagant lifestyle at the company's expense.