The liquidators of the country's largest tertiary training provider to Pacific people are working with authorities to help 1200 students find a new place to study.
William Black and Conor McElhinney, partners of McGrathNicol, have been appointed liquidators of Best Pacific Institute of Education Ltd.
All courses are suspended and there are meetings for students on Monday at campuses in New Lynn and Manukau.
The liquidators say they'll work with the directors, the Tertiary Education Commission (TEC) and the New Zealand Qualifications Authority to help students find new education providers.
One News earlier reported Best had told 150 staff it was closing. It has been operating for 30 years and has educated more than 20,000 people.
TEC earlier said it would not be funding Best in 2018 due to concerns about its financial sustainability and performance, "and our knowledge of the education needs in south Auckland".
TEC says Best provides training from Level One foundation-type courses through to degree level.
"We have identified alternative providers in the area for all of Best's programmes and will be working hard so that students can make a decision on their future study and understand the government support available," TEC said.
The shareholders resolved to appoint liquidators after determining that Best could no longer continue to trade.
The liquidators will report on the cause of the failure to creditors.