By SIMON HENDERY
A company running automated ticket machines at Warehouse stores has been placed in liquidation.
But ETM is continuing to trade pending a sale.
The company sells tickets for venues including the North Shore Events Centre and Takapuna's Bruce Mason Centre.
Liquidator Jeff Meltzer said last night that money from ticket sales since last Friday's liquidation was being placed in a trust account and tickets would be honoured.
Negotiations over the sale of the business were continuing, and a deal was possible by the end of the week, he said.
The $6 million company was started in December to challenge established ticket broker Ticketek.
It sells tickets through the Warehouse machines, over the internet, and from a Wellington call centre.
The chief executive of ETM NZ, Laurence Greig, said the liquidation was initiated by the company's sole shareholder, New York-based merchant bankers UBS Capital.
Mr Greig said UBS Capital had been an original stake-holder in ETM NZ's US-based parent company, which folded this year.
"I can only assume that they are divesting themselves of dot.com-type investments," he said.
Mr Greig was confident a new backer would be found for the company, which employs about 46 full-time equivalent staff.
"We're confident that the market justifies the presence of a second major ticketer," he said.
Curtain comes down on automated ticket firm
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