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

 

Postie Plus Group Limited (Administrators Appointed)

Monday 30 June 2014

News release

Postie Plus Group Limited (Administrators Appointed)


David Bridgman and Colin McCloy, as Administrators of Postie Plus, have today announced that they expect it will be another two to three weeks before the current conditional agreement concerning the sale of the Postie Plus business becomes unconditional and can be completed. The intended purchaser, an international retail group, is continuing its due diligence.

David Bridgman said: "As Administrators we remain keen to conclude a sale of the business as a going concern, as we believe this to be in the best interests of all creditors and Postie Plus staff. In the meantime, the Company will continue to trade through 68 stores nationwide following the pending closure of 12 stores as previously announced".

The Administrators also record their continued appreciation for the patience and forbearance shown by the Company's creditors and Postie Plus staff.

ends-
Notes to editors:
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.


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

NZ's Space Programme: Rocket Lab Makes It To Space (But Not Orbit)

Electron lifted-off at 16:20 NZST from Rocket Lab Launch Complex 1 on the Mahia Peninsula in New Zealand. It was the first orbital-class rocket launched from from a private launch site in the world. More>>

ALSO:

Earlier:

Budget: Irrigate (Good Times, Come On!)

Additional grant funding of $26.7 million over the next three years plus a capital boost of $63 million towards irrigation investments in Budget 2017 will deliver economic and environmental benefits through better use of water... More>>

ALSO:

Silver Fern Farms: Proposal To Close Fairton Sheepmeat Plant

Silver Fern Farms has advised its people of the proposal to permanently close the site, and has discussed potential transfer options to its other sites in the region as part of the consultation process...
More>>

ALSO:

MPI: Myrtle Rust Appears In Taranaki

The nursery in Waitara (just north of New Plymouth) reported suspected myrtle rust symptoms on young plants to the Ministry’s 0800 number yesterday (Tuesday). More>>

ALSO: