Mermaids fishing for new boss

Photo / Herald on Sunday

Mermaids strip club is refusing to sink without trace despite searching for a second owner in under two years.

The Auckland revue bar, which claims to be the first in the world to feature girls swimming in aquarium-style water tanks, has gone into receivership.

Former owner Paul Hollis fell behind on mortgage repayments after revamping the $4 million premises in the central business district, said receiver Victoria Toon.

Toon, of Corporate Restrucuring, said at least two other brothel owners had expressed an interest in buying the club.

"The business is profitable ... he couldn't make the repayments because the money was spent elsewhere."

Toon said she had reassured the employees they would hang on to their jobs.