Pegasus Golf and Sports Club north of Christchurch has closed its doors, despite earlier hopes the course would remain operational after the company behind it was placed into liquidation.

Pegasus Golf Limited, which operated the golf and sports club at Mapleham Drive in Pegasus, was placed into liquidation on 2 March 2026 after shareholders passed a special resolution.

At the time, the company said it hoped the golf course would continue operating.

A member, who Chris Lynch Media has agreed not to name, said receivers entered the property this week and removed equipment.

“Green keepers were told first thing this morning they no longer had jobs. The golf course is now locked up and finished.”

The owners put Pegasus Golf and Sports Club up for sale in 2024 after deciding not to proceed with plans to develop the site.

Licensed insolvency practitioners Tony Maginness and Jared Booth from Baker Tilly Staples Rodway Auckland were appointed as joint liquidators.

In their first report to creditors and shareholders, the liquidators said the company’s collapse followed debt recovery action by creditors.

The report said Inland Revenue had also filed an application with the High Court seeking to have the company placed into liquidation before the shareholders’ decision.

The company’s main asset is the Pegasus golf course property, which includes land and buildings spread across 13 titles. The property is already subject to a mortgagee sale process.

Liquidators said they have been working with secured creditors, the company director, employees and potential buyers while securing the company’s records and reviewing its financial position.

Financial documents show Pegasus Golf Limited owed significant sums to creditors when the liquidators were appointed.

Secured creditors are owed more than $6 million, while Inland Revenue is owed about $360,466 in GST and PAYE.

Unsecured debts include $204,235 owed to Inland Revenue, $211,086 to trade creditors, and more than $2.25 million in related party loans.

The company also held about $48,333 in cash at bank at the time of liquidation. The value of other assets including stock, vehicles, plant and equipment, and goodwill has not yet been confirmed.

Liquidators said it was too early to determine the likely recovery for creditors and the final outcome of the liquidation.

As part of the process, creditors have been asked to lodge any claims by 20 April 2026 to ensure they are considered in any distribution of remaining assets.

The liquidators said investigations into the company’s books, records and affairs are now underway to determine whether all assets have been properly accounted for and whether any further recoveries are possible.