Retail health company put in liquidation

AUCKLAND: TravelPharm Group Ltd has been placed in liquidation.

The company, which appears to operate TravelPharm retail health stores, was placed in liquidation on September 25 following a hearing in the High Court at Auckland.

A creditor had applied for the move.

Steven Khov and Kieran Jones, of forensic accountancy firm Khov Jones, have since been appointed as liquidators.

Mr Khov said they were in the early stages of their investigations and did not know how much money TravelPharm Group owed the creditor, or its trading status.

They were trying to contact company director Yoon Joo Song.

According to the TravelPharm website, the retailer has five stores: airside, landside and in the domestic terminal at Christchurch Airport, and two in Queenstown, including one under the name Beecology.

In November last year, Auckland Airport TravelPharm Limited, which operated the retailer's three Auckland Airport stores, was placed in liquidation, three months after it closed down the stores.

At that time, liquidator Baker Tilly Staples Rodway said TravelPharm was put in liquidation because it was losing money as a result of a decrease in sales.

It said increased competition with other dutyfree stores selling the core products sold by TravelPharm — such as Manuka Honey and skincare and health supplements — at Auckland Airport had reduced the company's sales by 50%.

A creditor also applied to have that entity liquidated. — The New Zealand Herald