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Rick Lucas Helicopters, which owns the red helicopter tourism company HeliPro, has been tipped into receivership by its director.
Sole director of the business Rick Lucas appointed PwC partners John Fisk and David Bridgman as receivers for the Palmerston North-based company and its related businesses, the accounting firm said in a statement. The HeliPro business employs 70 people and has 35 helicopters across its eight New Zealand bases as well as in Australia and Fiji.
As well as running tourist flights, HeliPro also offers commercial services including fire-fighting, mining exploration, flight training and power line surveying and maintenance.
The receivers are looking to sell the business as a going concern either as a whole or in part. They were yet to determine the full value of the business.