Baker in liquidation
Callaghans Bakery has gone into liquidation after more than three decades in business leaving 20 South Waikato people out of work.
As of Friday, November 7, the doors to the business officially closed, after the Tokoroa manufacturer voluntarily went into liquidation.
BDO Tauranga joint liquidator Paul Clark said owners Mike and Viv Callaghan sought professional advice in the weeks leading up to the liquidation.
The bakery’s main function was manufacturing pies, slices, pizzas and other products for retail bakeries and caterers.
But business had dropped off after numerous clients decided to bake their own produce, Clark said.
It was supplying to 150-160 bakeries at its peak in business but had dropped off to 140 leading up to liquidation.
It will be the end of an era for Tokoroa which has been home to the business since 1983. When its doors first opened it provided work for eight employees which rose to 20 before closure.
The liquidators will now sell the assets of the company and collect all amounts owing to the company by customers.
Mike and Viv Callaghan are two of the largest creditors of the company.
Clark said BDO Tauranga had experienced a small upsurge in appointments in recent months but said the number of appointments was well down on previous years.