Women's clothing retailer Andrea Moore - which has stores in Auckland, Wellington and Christchurch - has gone into liquidation.
McGrathNicol has been appointed as receiver.
Andrea Moore has traded as a registered business since 2004.
Managing director Brian Molloy said a perfect storm hit the company last year.
"Highly damaging late delivery, crippling creditor payment defaults and to cap it off extensive roadworks outside our retail stores in both Auckland and Christchurch constraining our passing trade for months on end," he said.
But Mr Molloy said the company should also have consolidated and focused on parts of the business that were future-proof and profitable.
The company's seven stores will continue to stay open while the receivers and directors look at options for the business, including selling all, or part of it.
Andrea Moore employs more than 20 staff.
The collapse marks the first clothing company liquidation of the year.
Last year, upmarket fashion retailer Topshop went into receivership and closed its Auckland and Wellington stores after failing to find a buyer.