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

 

Oil: 2014 New Zealand Petroleum Summit

Simon Bridges: Our abundance of energy and minerals resources provides us with unique opportunities to build the New Zealand economy.

Over the past three years the Government has made significant changes to how the sector is regulated. More>>

ALSO:

Scoop Business: NZ Dollar Catches Breath After "Goldilocks" Slump

The New Zealand dollar edged up following its dramatic slump yesterday after the Reserve Bank confirmed speculation it intervened in the currency market last month and PM John Key suggested a “Goldilocks” level far lower than at present. More>>

ALSO:

Biosecurity: Kiwifruit Claim To Hold Officials Accountable For Psa

Kiwifruit growers have joined forces to hold Biosecurity NZ accountable in the courts for its negligence in allowing 2010’s Psa outbreak that devastated New Zealand’s kiwifruit industry and exports. Foundation claimants representing well ... More>>

ALSO:

Poison: Anglers Advised Not To Eat Trout In 1080 Areas

With the fishing season opening in just a few days (1 October 2014), anglers are being warned by the Department of Conservation(DOC) not to eat trout from pristine backcountry waters and their downstream catchments, where the department is conducting 1080 poisoning operations. More>>.

ALSO:

Quotas: MPI Swoop On Suspected Fraudulent Fishing Activity

Ministry for Primary Industries (MPI) compliance officers swooped on a Hawkes Bay fishing enterprise today to secure evidence in an investigation into suspected fraudulent activity... “The investigation involves activity throughout the commercial supply chain – catching, landing, processing and exporting.” More>>

ALSO:

Scoop Business: Fonterra Slashes 2015 Milk Payout, Earnings Tumble 76%

Fonterra Cooperative Group cut its forecast 2015 milk price payout by about 12 percent, citing weaker global dairy prices and said there is a risk of further declines given strong global milk production. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news