Auckland firm TOA Architects enters liquidation owing $1.03m; founder plans new venture

Auckland architecture firm TOA Architects has entered liquidation owing creditors approximately $1.03 million, with founder Nicholas Dalton stating he plans to launch a new business. All employees were immediately let go when trading ceased. Liquidators are negotiating the sale of the company's assets to Dalton's new entity, while investigating two vehicles sold before liquidation, valued at $27,200. Dalton disputes the $234,866 overdrawn current account figure, with creditors including ANZ Bank, ASB Bank, and Monument Finance. The award-winning practice, known for Taumata o Kupe at Te Mahurehure Marae, grew to 35 staff after investing heavily for Auckland light rail work. When that project was cancelled, the anticipated revenue pipeline disappeared, causing sustained cashflow pressure.