Debt woes drag on for old bar

A Palmerston North bar with a chequered history is yet to be put to rest, despite closing years ago.

Mao Bar on George St closed in 2013, when its parent company Alan Rowell Investments was placed into liquidation after racking up $266,000 of debts.

About $218,000 of that was unpaid GST and PAYE taxes, with a $20,000 loan to ANZ Bank the next significant debt.

The site has housed many different businesses since, including an African-themed bar and a panda-themed cafe.

It is now home to Mediterranean and Turkish restaurant Kapadokya.

But while the site has moved on, Alan Rowell Investments is still yet to be officially wound up.

Liquidation reports have not been uploaded to the Companies Office at six-month intervals, as is usually done, by liquidator Lyn Carey of Mckenzie and Partners since March 2015.

A slew of reports were uploaded in February with one of them showing where money has gone since. While $32,390 was raised from GST refunds and the sale of the business, none of that has gone to paying off debts.

Instead, the bulk of the money $22,745 - has been sucked up by liquidator fees.

The report says the company may be wound up within the next six months.

The bar was established in 2006, and had many owners over the years.

One of them, Richard Soper, was sentenced to six months’ home detention in 2011 after pleading guilty to 55 tax evasion charges.

He admitted not paying the tax so he could pay other bills Mao Bar had.