Receivers appointed to Zany Zeus Limited
John Fisk and Richard Nacey, of PwC, were appointed receivers of Zany Zeus Limited and associated companies on 2 December 2019, following a request from the Director of the Companies. Zany Zeus is a boutique, award winning, cheese and ice cream maker. Based near Wellington, it offers a range of organic, hand-crafted cheeses, ice creams and milk products. The Company employs approximately 29 staff at its factory and adjoining café.
Receiver Richard Nacey says, “The Company’s Director made the decision to request the appointment of receivers following time and cost overruns incurred during the expansion into a new factory, which resulted in the Company being placed under ongoing cash flow pressure. While it is still early in the process, we are of the view that there is a good underlying core business with significant customer support and a great brand. We are continuing to trade on a business as usual basis while we look to determine the most appropriate way forward to maximise recoveries for creditors.”
The receivers are yet to establish the full extent of creditor claims against the Company.