Dunedin craft chocolate company OCHO has announced it is seeking voluntary liquidation with “no prospect of achieving future profitability under the current business model”.
In a statement, OCHO Limited said the new board notified staff and shareholders that the company is “unable to trade out of its current financial situation” and have requested a special meeting to consider and pass a resolution to appoint a liquidator.
“While OCHO Limited is currently solvent and can continue to trade for a short period of time, the new board hopes that winding up the company will present an opportunity for the business to be sold as a going concern,” OCHO Limited board chairman Pete Lead said.
“The best outcome for shareholders would be that the OCH…
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