Habitual Fix wraps up
The owners of Habitual Fix are likely to be left $130,000 out of pocket as their sandwich shop wraps up. Just over a year ago, ex-cops Anna and Heath Finlay opened the food chain’s Palmerston North outlet on Main St, near The Square and the city council building. Despite a promising start, the couple have struggled to make a crust and have listed the store for sale. Its doors are now shut and the sandwich and salad spot went into liquidation last week. The first liquidation report from Hamish Pryde and Brent Dickins, of Palmerston North accountancy firm Coombe Smith, found the business, registered as Rotti Ltd, was likely to come up $130,000 short at the end of the proceedings. However, the Finlays had put a sizeable amount of their own money into the business and were likely to be the only ones left out of pocket, Pryde said. The company owed $272,205 to unsecured creditors, $126,000 of that was a loan to the business from the Finlays. Another $140,573 was earmarked for shareholder advances. This left $5632 owed to suppliers, which would almost certainly by covered by the asset sales, Pryde said. After a promising start last April, the Finlays attempted to grow the business. But, according to the report, not enough money was coming in to cover their investments, so they decided it was time to shut up shop. The store has been listed for sale with ABC Business, with a $50,000 asking price. It was the 16th Habitual Fix food chain store in New Zealand, adding to the outlets in Auckland, Wellington and Hamilton. The national franchisor was offered first option to buy the business and its assets, but no firm offers had been received yet, Pryde said. Before opening Habitual Fix, the couple ran the local Lollipops Educare centre for eight years, and had both served on the police force. Heath Finlay put in 17 years as a police officer, including in the armed offenders squad and as a dog handler. Anna Finlay served five years in the police. They could not be reached for comment.