The receivers for Rotorua-based Verda International, which was placed into liquidation in September, say the company has debts and liabilities of almost $9 million and assets of $6.5 million.
Kiwibank is the first ranked creditor and is owed $2.69 million plus accrued interest, according the receiver's report.
Employees are ranked as preferential creditors and are owed $94,000, consisting of accrued wages and holiday pay entitlements. Verda is understood to have employed from 20-to-25 staff.
A group of convertible note holders and shareholders is owed about $4.92 million, secured by way of a second-ranking General Security Agreement.
Verda International was an outdoor wood specialist formed after local and international shareholders came together in March 2014 and bought all of former company Verda New Zealand's assets, brands and intellectual property.