A long-running Christchurch footwear retailer has gone into liquidation after more than two decades of trading.
Street Legal Shoes Limited, which has been operating since 2004, was placed into voluntary liquidation on 21 October 2025 by a special resolution of its shareholders.
The company had four retail stores across the South Island and an online store selling popular brands including Vans, Dr Martens, Birkenstock, and Crocs.
Licensed insolvency practitioner Andrew Oorschot of Ashton Wheelans Chartered Accountants was appointed liquidator.
Oorschot said Street Legal had enjoyed many successful years but could not withstand the effects of a deteriorating retail environment.
“The last two years have seen an increasingly challenging operating environment,” he said in his initial report. “While multiple factors are at play, the challenging environment is primarily a result of changing consumer purchasing behaviour, increased competition from non-traditional and global entrants, and most significantly the poor economic conditions resulting in the current cost of living crisis.”
To try to remain viable, shareholders injected more capital and took what the report described as “substantial steps” to streamline the business. Despite these efforts, the company continued to struggle, and shareholders opted to liquidate the company “to mitigate any further potential loss to creditors.”
The company’s statement of affairs shows staff are owed around $19,699 in wages and holiday pay, while Inland Revenue is owed approximately $101,540 in GST and PAYE. ANZ Bank is listed as a secured creditor, with an estimated $395,000 owed under a general security agreement. There are a further 14 secured creditors, including suppliers such as Windsor Smith, Blundstone, Brittain Wynyard, Future Brands, and Nevada Sport.
Oorschot confirmed that Street Legal Shoes’ total liabilities are still being verified, but the liquidation is an insolvent one, meaning there will likely be insufficient funds to pay all creditors in full.
Unsecured creditors have until 28 November to lodge their claims. Oorschot said he does not intend to hold a creditors’ meeting, as no distribution to unsecured creditors is expected unless one is specifically requested within ten working days of notification.
The company’s assets include inventory valued at $218,737 and store shelving and fittings, the value of which is yet to be confirmed. These will now be sold as part of the liquidation process.
Oorschot said his duties include taking control of company assets, notifying creditors, recovering debts, and investigating whether any voidable transactions, insolvent trading, or other breaches occurred prior to liquidation.
The liquidation is expected to take between three and six months, subject to any recovery action required.
