Eighty-seven of ILT's 606 workforce will be made redundant after staff restructuring due to Covid-19 impacting the hospitality sector.
ILT chief executive Chris Ramsay said the business was unable to retain its full quota of staff in the current economic environment.
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According to its website ILT, which was formerly known as Invercargill Licensing Trust and has a monopoly on the development of premises licensed for the sale of alcoholic beverages in Invercargill, operates more than 20 businesses in the hospitality sector.