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Number One Retail Group Calls Off Deka Purchase

Farmers Deka Limited Chief Executive, Mr Nick Lowe, has confirmed that the proposed sale of Deka New Zealand Limited to Number One Retail Group Limited will not proceed.

“Despite substantial negotiations between the parties, Number One Retail has advised that they have withdrawn from the transaction.

“I am extremely disappointed by this latest turn of events as there was every reason to believe a sale would be successfully concluded. We had genuinely hoped to secure a positive future for the Deka team,” Mr Lowe said.

Deka stores will continue to trade as normal until revised closure and store rebranding plans are finalised. No further statement will be made until that time.

[ends]


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