Local streetwear brand, Federation has been placed into liquidation after 16 years in business along with its sister firm Laundromat. The liquidation follows a court appearance by owners Nicholas James Clegg and Jenny Elizabeth Joblin last year for filing erroneous paperwork.
Liquidator Peri Finnigan, in a report filed with the Companies Office, said ASB bank was owed over $1 million of secured debt. Employees of Federation are owed $2637 in holiday and redundancy pay, while workers at Laundromat are owed $11,000.
Both Federation and Laundromat continue to trade while in liquidation, with attempts to sell the business as a going concern.