Hamilton fast food company Fill a Bowl insolvent: Staff, bank, financers want more than $350,000

Fast food outlet at Hamilton's Centre Place Mall and The Base faces insolvency.

Creditors of an insolvent fast-food retailer are claiming more than $350,000 after the company went into liquidation last week.

Inland Revenue, staff and financiers are among the creditor claims noted in a first report from Waterstone’s Damien Grant and Adam Batterill.

Hamilton-based Fill A Bowl’s creditors include a bank, two financers, business consultancy groups and several hospitality suppliers.

Grant and Botterill were appointed as liquidators last month and released their first report on Friday.

Fill A Bowl traded as a “health-orientated fast food retailer” according to the report, operating out of Centre Place Food Court and the Base Food Court in Hamilton.

The company became insolvent after sales from a second outlet were lower than expected.

Liquidators said the company could not meet its debts three months after opening so its accountant advised liquidation.

No secured creditor claims had been received as of last week, however, liquidators identified several creditors claiming money from the company.

Inland Revenue is claiming $40,000 and employees are claiming $14,300.

Secured creditor claims are at $288,000 with unsecured creditor claims coming in at $16,300.

Fill A Bowl’s creditor list includes BNZ, personal loan company Finance Now and UDC Finance. UDC Finance is a subsidiary of Japanese bank Shinsei that provides asset-backed finance in New Zealand.

Fill A Bowl specialised in healthy poke bowl-style fast food.

Hospitality suppliers Davis Trading, Burns and Ferrall, now known as Rewards Hospitality, Lagoon Equipment Rentals, Bidfood, Service Foods and Gilmores are also claiming money.

Kiwi business consultants Tabletalks and Outsauced are also claiming money, with Coca-Cola also making the creditor list.

Liquidators said they “are aware that there may be other creditor claims” against Fill A Bowl and encouraged claimants to come forward.

Grant and Botterill said they don’t know if the company has enough assets to allow creditors to receive their claims. The liquidators are yet to identify the company’s assets and investigate its financial records.

“Because of this the liquidators are unable to estimate the quantum or rate of a distribution to any class of creditor,” the report said.

This isn’t the first food retailer to face business setbacks in recent months.

With hospitality in dire straits because of staff shortages, minimum wage hikes and supply chain constraints, the likes of Go To Collection’s Madam Woo and Hawker and Roll went into voluntary administration at the end of last year.

Last month, the Herald reported Go To’s long list of creditors claimed more than $750,000, with Inland Revenue claiming the most, at $201,099.

Boutique bakery Magnolia Kitchen went into liquidation at the end of 2022, with creditor claims coming in at over $250,000.

The Silverdale business’ creditors included Heartland Bank who wanted $180,000. ASB Bank’s claim amount was not specified, however, the company owed $25,129 to former employees in “wages, holiday pay and redundancy pay”, Magnolia’s liquidator Keaton Pronk said.

Pronk was appointed in October after the bakery failed to recoup costs because of Covid-19 lockdowns.

Bernadette “Bets” Gee announced the company’s end to her 200,000-plus Instagram followers: “I am incredibly heartbroken to announce Magnolia Kitchen effective 7th October 22 is in liquidation. I have given my all to this business over the past 10 years. 2 children, 1 wedding, 2 premises, 2 books, 1000s of cakes, countless friends, and insane amount of meaningful connections.”