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

 


Postie Plus Group Limited (Administrators Appointed)

18 June 2014

Postie Plus Group Limited (Administrators Appointed)

David Bridgman and Colin McCloy, as the Administrators of Postie Plus Group Limited (Administrators Appointed) announced today the Company’s decision to close 12 Postie Plus stores, affecting 64 Postie Plus staff.

Prior to the appointment of the Administrators, Postie Plus management had identified a number of stores that were for various reasons no longer considered viable. Those findings were discussed with the Administrators and as a result, the following stores will close:

Birkenhead, Bishopdale Mens, Bishopdale Womens and Kids, Dannevirke, Gore, Mt Roskill, Papatoetoe, Rangiora Kids, St Lukes, Sydenham, Te Kuiti and Westgate.

The 12 stores will continue to trade in the interim until the final closure dates in the first week of July 2014. The remaining 70 stores will continue trading.

Administrator Colin McCloy says, “Due to the on-going needs of the wider business operations, the difficult decision has been made, in conjunction with management, to close a number of stores. All staff at these locations have been informed. We recognise that this is a difficult period for all concerned, and wish to thank staff for their professionalism and commitment, and customers and the local communities for their loyalty and support.”

The process of ‘voluntary administration’ is a relatively new business rehabilitation scheme that was introduced into New Zealand company law on 1 November 2007. Administration is intended to be a relatively short-term measure that freezes the company’s financial position while the administrator and the creditors work on the next steps.

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

What Winter? Temperature Records Set For June 20-22

The days around the winter soltice produced a number of notably warm tempertaures. More>>

Conservation Deal: New Kākāpō Recovery Partnership Welcomed

Conservation Minister Maggie Barry says the new kakapo recovery partnership between DOC and Meridian Energy is great news for efforts to save one of New Zealand’s most beloved birds. More>>

ALSO:

Tech Sector Report: Joyce Warns Asian Tech Investors View NZ As Hobbits And Food

Speaking in Wellington at the launch of a report showcasing the value of the technology sector to the New Zealand economy, Joyce said more had to be done to tell the country's technology stories overseas. More>>

ALSO:

Mediaglommeration: APN Gets OIO Approval For Demerger Plan

APN News & Media has received Overseas Investment Office approval for its plan to split out its NZME unit ahead of a potential merger with rival Fairfax Media's New Zealand operations. More>>

New Paper: Ninety-Day Trial Period Has No Impact On Firms' Hiring

The introduction of a 90-day trial period has had no impact on hiring by New Zealand companies although they are now in widespread use, according to researchers at Motu Economic and Public Policy Research. More>>

ALSO:

Corrections: Serco Exits Equity Stake, Remains As Operator

Serco has sold its equity stake in the company that holds the contract to design, build and run Wiri Prison in South Auckland but continues as sub-contractor to operate the facility. More>>

GDP: NZ Economy Grows Faster-Than-Forecast 0.7%

New Zealand's economy grew at a faster pace than expected in the first quarter of 2016 as construction expanded at the quickest rate in two years. The kiwi dollar jumped after the data was released. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news