Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Hugh Wrights “Receivership” Sale misleading


Commission sends warning to clothing retailer: Hugh Wrights “Receivership” Sale misleading

The Commerce Commission has sent a warning to clothing retailer HW Munns Limited following advertising of a Hugh Wrights Receivership Sale.

The advertising, which stated “Hugh Wrights Receivership Sale – The Receiver has released more stock, Willis Street Store Only” appeared in Wellington’s Dominion Post newspaper earlier this month. In addition HW Munns has advertised the receivership sale on radio.

A Commission investigation revealed that HW Munns had purchased all of Hugh Wright’s clothing stock from the receiver prior to offering it for sale. It also purchased stock from Hugh Wright’s suppliers, which had not arrived at the stores before the company was put into receivership, and supplemented this with stock from HW Munns’ Christchurch store. The stock now being offered for sale is no longer part of the receivership process and to refer to it as such is misleading.

Director of Fair Trading Deborah Battell said the Commission has sent a warning letter to HW Munns advising the company to immediately stop advertising its sale as a ‘receivership sale’ or risk breaching the Fair Trading Act.

“Consumers are entitled to know that, strictly speaking, this is not a receivership sale. HW Munns bought the stock and the proceeds of the sale are not going to the receiver,” she said.

Background

HW Munns was given the right to use the name Hugh Wright’s on three of its stores – in Wellington, Auckland and Christchurch – and to lease the Hugh Wright’s premises until after Christmas, having purchased all of Hugh Wright’s stock from the receiver.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Superu Report: Land Regulation Drives Auckland House Prices

Land use regulation is responsible for up to 56 per cent of the cost of an average house in Auckland according to a new research report quantifying the impact of land use regulations, Finance Minister Steven Joyce says. More>>

ALSO:

Fletcher Whittled: Fletcher Dumps Adamson In Face Of Dissatisfaction

Fletcher Building has taken the unusual step of dumping its chief executive, Mark Adamson, as the company slashed its full-year earnings guidance and flagged an impairment against Australian assets. More>>

ALSO:

No More Dog Docking: New Animal Welfare Regulations Progressed

“These 46 regulations include stock transport, farm husbandry, companion and working animals, pigs, layer hens and the way animals are accounted for in research, testing and teaching.” More>>

ALSO:

Employment: Most Kiwifruit Contractors Breaking Law

A Labour Inspectorate operation targeting the kiwifruit industry in Bay of Plenty has found the majority of labour hire contractors are breaching their obligations as employers. More>>

ALSO:

'Work Experience': Welfare Group Opposes The Warehouse Workfare

“This programme is about exploiting unemployed youth, not teaching them skills. The government are subsidising the Warehouse in the name of reducing benefit dependency,” says Vanessa Cole, spokesperson for Auckland Action Against Poverty. More>>

ALSO:

Internet Taxes: Labour To Target $600M In Unpaid Taxes From Multinationals

The Labour Party would target multinationals operating in New Zealand to ensure they don't avoid paying tax if it wins power and is targeting $600 million over three years through a "diverted profits tax," says leader Andrew Little. More>>

ALSO: