The high-end grocery chain Nosh, and its sister company Mt Eden Food Company, have been placed into receivership.
Damien Grant from Waterstone Insolvency was appointed the receiver by the company's sole director Andrew Guy Phillips.
Nosh Group is owned by Auckland businessman John Denize, but Mr Phillips had invested $1 million into the venture, when it was bought from Veritas Group in February.
Five stores, including three in Auckland and one in Tauranga, are currently closed, but it's understood talks have been held over the weekend with potential buyers.
A sixth store in Kerikeri is independently owned and not affected by the receivership.