Invercargill motorcycle business owes more than $535,000 after liquidation

An Invercargill motorcycle retail and repair business owes more than $535,000 following its liquidation, with no money expected to be available for former employees or unsecured creditors, according to a report by Stuff.

Crawford Motorcycles Limited, which operated from leased premises on Clyde St, went into liquidation on February 24, 2026, following a downturn in sales and rising costs.

A six-monthly report by liquidator Emma Laing, of Laing Insolvency Specialists, showed 28 creditor claims totalling $535,739.80 had been received, Stuff reported.

The company’s estimated assets totalled $18,640.94, comprising $8625 from the sale of plant, equipment and stock, $6015.94 in bank funds at the time of the liquidator’s appointment, and an estimated $4000 from the sale of two remaining older vehicles.

Given the limited assets, Laing anticipated only a partial payout to secured creditor ANZ Bank, which had claimed $76,537.96. No funds would be available to pay preferential or unsecured creditors.

Preferential claims totalled $183,397.87, including $17,770.26 in holiday pay owed to four former employees and $165,627.61 owed to Inland Revenue for GST and PAYE, Stuff has reported.

A further 22 unsecured creditors had filed claims totalling $275,803.97.

The business gradually wound down trading over a couple of months before ceasing operations ahead of the liquidation. Customer-owned motorcycles were returned before the liquidators were appointed.

An investigation into outstanding accounts receivable found that most recorded amounts had already been paid, were disputed or were uneconomic to pursue.

Shareholders voted to place the company into liquidation in February 2026. Alan Ross Crawford held a 67.86% shareholding, while Dean Owen Crawford and director John Alan Crawford each held 16.07%.

The liquidation is estimated to be completed by December 31, 2026.