Iconic Karangahape Road cafe and bar Verona is in liquidation after 34 years in business.

Liquidators Kristal Pihama and Leon Bowker of KPMG Auckland were appointed to JCK Holdings Limited, trading as Verona Cafe & Bar, last week by the High Court in Auckland after a petition from the Commissioner of Inland Revenue.

Verona was opened in 1992 and plays host to various music acts.

A post on Verona’s Facebook page last week said the bar would be closed “temporarily” due to “unforeseen circumstances”.

“We will update you as soon as we know anything. Thank you for all the support and love over the years, we hope to see you all soon!” the post read.

However, an application to have the company liquidated was filed in the High Court on November 12 last year, according to an advertisement on the New Zealand Gazette website.

Companies Office records show John Craig is the sole director and shareholder of JCK Holdings.

The Herald has contacted Craig for comment.

According to Ministry of Business, Innovation and Employment (MBIE) figures, company liquidations hit a 15-year high last year with 2867.

That was up from 2502 liquidations the previous year and 1823 liquidations in 2023.

Inland Revenue has ramped up pressure on businesses with tax arrears over the past couple of years.

This has resulted in a massive spike in liquidations handled by the Insolvency and Trustee Service (ITS), or the Official Assignee, which acts as the court’s default liquidator when no other firms take on an appointment.

According to data currently available, there have been 541 ITS-administered liquidations through the first nine months of the current financial year.

That figure looks on track to surpass the 586 liquidations recorded in the 12 months to June 2025 and has already surpassed the 381 liquidations recorded in the year to June 2024.