The administrators said the company and associated businesse were facing cashflow difficulties and could not continue to operate in their current form. Photo: RNZ / Richard Tindiller
Wellington Combined Taxis is in voluntary administration due to cashflow problems, and could be sold.
The company is the largest taxi firm in the capital and one of the largest in the country, with 330 cabs operating as either owner-drivers or lease operators.
Iain Bruce Shephard and Jessica Jane Kellow of BDO Wellington have been appointed as joint administrators of the taxi company, as well as the associated businesses Wellington Combined Properties and Combined Finance Limited.
In mid-2023, Wellington Combined faced legal action from several drivers which BDO said had led to internal disruption and a large drain on cash.
It said the companies were balance sheet solvent, but were facing cashflow difficulties and could not continue to operate in their current form.
BDO said the administrators were looking to achieve the best outcome for all stakeholders which may include some form of restructuring, refinancing or even a sale of the business.
In the meantime, Wellington Combined Taxis continued to trade as normal, and all taxis were still on the road.