Maketū Pies, a noted Kiwi brand and the largest employer in the small Bay of Plenty town, has gone into voluntary liquidation after five years of operating losses.
Te Arawa Management Ltd, which acquired the pie maker in 2019 during receivership, cited rising costs, slim margins, and an inability to sustain further investment as key reasons for the decision.
While a solvent liquidation process will ensure creditors and employees are paid, the closure marks the end of a 40-year legacy for the business.
Local leaders and residents have called the development a significant blow to the community, but hold out hope that the company’s premises might attract new ventures to revitalise the town. The liquidation is set to affect jobs for about 40 locals.
Interim chief executive Tina Kilmister-Blue said the decision had not been made lightly and, “a number of alternative operating options have been explored, however, these are not viable.”
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