The closure of Auckland's Dragon Boat Restaurant marks the end of its 31-year legacy in the city's Elliott Street Shopping Centre.
One of Auckland’s most prominent Chinese restaurants, Dragon Boat Restaurant, has gone into liquidation after 31 years in business.
It was reported that the restaurant, which specialises in Cantonese cuisine, was placed into liquidation in July, owing over NZD 1 million in debts.
The Liquidator’s report has stated that the business was forced to close due to a number of contributing factors, including the ongoing impacts of Covid-19, the downturn in customer spend, high trading costs and being in arrears with the landlord.
The business’s assets have so far been unable to be determined, but it had a sole vehicle worth of NZD 29,294. It also has property, plant and equipment worth NZD 16,369, which have not been subject to securities.
The business owes creditors NZD 1,396,717, most of which is owed to the landlord. Insecure non-preferential creditors have been identified, and include employee claims of NZD 53,743, GST and PAYE of NZD 84,864 owed to Inland Revenue.
Dragon Boat Restaurant has been in the location in the Atrium on Elliott Street Shopping Centre since 1994.
Auckland Mayor Wayne Brown is a fan of the restaurant, having used it in a promotional video on social media to entice submissions of feedback for Auckland Council’s annual plan, offering residents of Auckland a chance to win a “Succulent Chinese Meal”. The restaurant replied to the video, saying it was honoured to welcome the Mayor.
“It was a pleasure to have the mayor visit and film at our restaurant, celebrating the flavours of authentic Chinese cuisine and the vibrant local dining scene. Thank you for your support.”
The Elliot Street Shopping Centre is owned by NDG Asia Pacific Limited, a company owned by Singapore billionaire Furu Ding. Plans have been submitted by Ding, who bought the site of the former Royal International Hotel in 2012 for NZD 53 million, to build a 52-story tower.
The tower is expected to be the tallest residential building in New Zealand. Resource consent for the project has been granted and will expire in 2029.
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