The Crowdy Head Fish Co-operative has stopped trading and creditors will meet with the liquidator today (27 July), reports ABCRural.
Of the 16 unsecured creditors listed, the major one is the NSW Department of Primary Industries.
Karen Hembrow, from DPI Catchments and Lands, says the department is owed nearly A$239,000.
"The co-op has occupied land under a lease and a licence that's been leased from the department for the use of the co-op, and the money is rent and charges and interest that has not been paid," he said.
"We had been working with the co-op for quite a period of time to try and assist them but obviously that was not successful."
Karen Hembrow says the department is working with the liquidator and hasn't made any decision about what action it will take.
Fishermen that had been supplying the co-op are now sending their catches further north and south to the co-operatives in Laurieton and Taree.
