All the Five Boroughs employees have been paid
The Five Boroughs owners have repaid some of the money they owe their failed company.
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The liquidators of the company that owned the Five Boroughs restaurant in Wellington’s Roxburgh St have confirmed that all staff have now been paid what they were owed in full.
Liquidator Jessica Kellow of Shephard Dunphy says the former Five Boroughs directors, Elie Assaf and Bryn-evan Thomas, made “a partial payment of the money they owed to the company.”
The first liquidators’ report had shown the shareholders of the holding company, Glassescases, owed the company $96,514 and that 19 employees were owed $32,431 in holiday pay.
In a post to Facebook, Bryn and Elie said that “we’ve always had the staff’s interests at heart and have been in their corner from the beginning.”
Glassescases went into liquidation on January 8 and its shareholders have changed the name of another restaurant they have owned in Cuba St since 2010 to Five Boroughs.
As well as the holiday pay owing, Glassescases also owed Inland Revenue $246,565 in PAYE and GST, an amount that dates back several years and, together with the holiday pay owed, has a preferential ranking and will be paid before any other debts.
Those other unsecured debts include another $114,855 owed to the IRD in company tax and penalties, $14,000 owed to ANZ Bank and an estimated $26,973 owed trade creditors.
“We’d like to take the time to thank everyone out there who has taken the time to voice their opinions and concerns for the welfare of our staff and friends,” the Facebook post says.
“Not everything said has been in a positive way toward us personally or our restaurant but we know that everything said has come from genuine concern for the well-being of our workers.”
The post goes on to say that “these things do take time,” and that they have acted as swiftly as possible to rectify the situation.
“If you know Elie and myself at all you will know that we are in no way walking away from our financial obligations. We’ve made some mistakes in the past year and are paying for those now.”
Jenny Ruth
Thu, 01 Feb 2018
Thu, 01 Feb 2018
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All the Five Boroughs employees have been paid
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