Inspiry ceased operations in October 2022. It is an online marketplace for designing, marketing, and distributing furniture. The platform offers interior design services, window treatments, and shopping services for furniture, lighting, kitchen, and bedding appliances. The company was founded in 2018 and is based in Bay of Plenty, New Zealand.
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Latest Inspiry News
Oct 3, 2022
Esther Taunton16:33, Oct 03 2022 Online furniture store Inspiry has gone into liquidation. An online furniture store has gone in liquidation , owing more than $2 million to unsecured creditors. Paul Manning and Thomas Rodewald of BDO Tauranga have been appointed liquidators of Inspiry Management Limited, documents filed with the Companies Office show . The company was founded in 2018 and traded as Inspiry, an online furniture and homewares store based in Bay of Plenty. Shareholders passed a special resolution putting the company into liquidation on September 20. READ MORE: Manning and Rodewald had been advised the business’ failure was due to trading losses and cashflow issues, according to their initial report. Calls for insolvency laws to be less harsh are mounting. Some are calling for bankruptcy to be replaced with a mandatory, inquisitorial debt arrangement scheme. The total amount owed to creditors was not yet known, but more than $2.1 million was owed to unsecured creditors, including $1,135,299 in customer payments received in advance. Six secured creditors were owed a total of $237,360, while Inspiry staff and Inland Revenue, were owed $11,314 and $52,253 respectively. As preferential creditors, employees and Inland Revenue must be paid ahead of unsecured creditors. The liquidators’ report showed the company had vehicles worth $32,000 but the total value of stock, plant and equipment had not been disclosed. Its bank assets were listed as “Nil.”
Inspiry Frequently Asked Questions (FAQ)
When was Inspiry founded?
Inspiry was founded in 2018.
Where is Inspiry's headquarters?
Inspiry's headquarters is located at 72 Westridge Drive, Tauranga, Bay of Plenty.
What is Inspiry's latest funding round?
Inspiry's latest funding round is Dead.
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