Sportcraft Marine Ltd and Sportcraft Boats Ltd have both been placed into liquidation after IRD applied to the High Courts at Tauranga and Hamilton on August 12, 2024. Photo / Sandra Conchie
Sportcraft Marine Ltd and Sportcraft Boats Ltd have both been placed into liquidation after IRD applied to the High Courts at Tauranga and Hamilton on August 12, 2024. Photo / Sandra Conchie
Two boating businesses in Mount Maunganui and Morrinsville have been placed into liquidation owing more than $1.5 million in unpaid taxes and loans.
Wendy Somerville and Malcolm Hollis, from PricewaterhouseCoopers (PwC), were appointed joint liquidators of Sportcraft Marine Ltd and Sportcraft Boats Ltd on August 12after Inland Revenue successfully applied to the High Courts at Tauranga and Hamilton to place the businesses into liquidation.
The companies traded from a leased site at Hewletts Rd in Mount Maunganui, and Sportcraft Boats’ other branch in Thames St, Morrinsville.
Confirmation of the liquidators’ appointment was detailed in a public notice published in the Bay of Plenty Times on August 16, which said creditors of both businesses had until September 20 to file their claims to the liquidators.
NZ Companies Office records show the directors of the two companies are James Black (known as Jamie Black) from Ōmokoroa, and Benjamin Black and Spencer Black, both from Morrinsville. The three directors are also the shareholders of the two companies.
According to its website, Sportcraft Boats was a family marine business that started in Morrinsville in 1989 and grew to have two stores, one in Hewletts Rd and the other in Thames St, Morrinsville. Sportcraft Marine’s Mount Maunganui branch opened in 2002.
The two companies specialised in selling and servicing trailer boats and outdoor motors, both new and used, with fully certified marine chandlery and accessories.
Inland Revenue’s statements of claim for the two companies, obtained by the Bay of Plenty Times, revealed that as of May 1, they owed $1,470,258 in unpaid taxes and another $55,475.22 under IRD’s Small Business Cashflow (Loan) Scheme.
This included $1,111,931.13 of PAYE tax deductions and $358,126.76 worth of GST.
In these documents, the IRD said the two companies were issued statutory payment demands in March this year under Section 289 of the Companies Act.
The first was served on Sportcraft Marine Ltd on March 8, with a demand to pay $815,586.81 which was the amount owed at the time and a similar demand was issued to Sportcraft Boats Ltd on March 11 requiring payment of $371,071.67.
In the documents, Inland Revenue submitted that because the companies had not paid the amounts owed they were insolvent and unable to pay their debts, it was “just and equitable” for them to be placed into liquidation.
PwC liquidator Wendy Somerville told the Bay of Plenty Times a decision was made that both businesses should stop trading on August 12, and the next step was to secure any physical assets at both the Mount Maunganui and Morrinsville premises and vacate the sites.
She said the liquidators would look to do this at the Mount Maunganui premises by the end of this month and hoped to be able to do the same at the Morrinsville branch by October 20.
Somerville said the first liquidators’ report was due on September 12.
The Bay of Plenty Times sought further information from the IRD.
However, an IRD spokesman said the department was prevented from commenting on individual taxpayer matters under Section 18 of the Tax Administration Act.
Sportcraft Marine Ltd and Sportcraft Boats Ltd in Hewletts Rd, Mount Maunganui have been placed into liquidation by IRD. Photo / Sandra Conchie
When theBay of Plenty Times visited Sportcraft Marine’s Hewletts Rd branch last week, a sign erected by Realtycom real estate agency near the entrance to the property advertised the vendors’ leasehold interest for sale at $1,325,000.
This included the 3600sq m plot of land and 756sq m building area.
A Realtycom spokesman said the property was owned by the Tauranga City Council, with the vendors’ leasehold interest administered by the Tauranga Airport Authority and the current lease runs until 2045. As of August 2, the property was still available for lease.
A city council spokeswoman said the council was not involved in advertising the vendors’ leasehold interests for sale.
Sandra Conchie is a senior journalist at the Bay of Plenty Times and Rotorua Daily Post who has been a journalist for 24 years. She covers mainly police, court and other justice stories, as well as general news. She has been a Canon Media Awards regional/community reporter of the year.
