bbq factory placed into receivership

The BBQ factory is under bankruptcy management.
KPMG\'s receiver, Sean Adams, was appointed at lunch time today after a private secured creditor applied for a loan believed to be less than $5 million.
The company, which sells barbecues and wood burners, used to be the owner of Hellaby Holdings, a listed investment company, but its past was troublesome.
Hellaby sold the business in 2008, but it was not sold until the value of the barbecue plant was reduced to $18. 8 million.
The business was owned by Mark Flaherty, who was part of the hell plant management team, when the plant was owned by Hellaby Holdings.
There are eight stores in the BBQ factory, all on North Island.
The company\'s two largest stores in Auckland.
Adams told APNZ that the company may not be trading to get out of trouble.
He said that it was a bad winter for the barbecue plant, which relied on the sale of wood burners in the winter and did not end until the summer barbecue season.
About 30 to 40 partstime and full-
Time work is involved in this business.
The company\'s store is closed today, but its Oakland store will reopen for a while tomorrow.
Adams said it was an extremely difficult market for the company, which faced fierce competition such as Mitre 10 and Bunnings Warehouse.
\"This is a market that is extremely competitive and difficult and you need a lot of capital to make it work at the end of the day,\" he said . \".