Local marine and sports clothing company Line 7 has gone into receivership.

The business, owned by Ross Munro and Marilyn Horne, is most well-known for dressing Team New Zealand sailors in the America’s Cup.

Receivers Grant Graham and Brendon Gibson of KordaMentha were appointed to the business today.

It is not known whom they were appointed by; but Companies Office records show ANZ National Bank is the only bank listed as a Line 7 secured creditor.