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

 

Meccano 2016 Limited Goes Into Voluntary Administration

It is with disappointment that Meccano 2016 Ltd director Vere Sharma announces that the company will go into administration today, Wednesday 21st February 2018.

Sharma’s family business bought Meccano in 2016 and he was determined to turn the brand around.

Despite an enormous amount of effort from hard working staff, Sharma says Meccano was unable to adapt fast enough to what has been a trying time for many mall-based retailers.

He says the decision has not been made lightly.

‘I’m committed to the clothing industry, and have been for 30 years,’ he says.

‘My other business dealings are in no way affected by this.’

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

EU Wine Exports: Peter Yealands Fined For "Unprecedented Offending"

Yealands Estate Wines has pleaded guilty to “unprecedented offending” under the Wine Act 2003 and has copped a $400,000 fine. More>>

ALSO:

Discussion Paper: Govt To Act On Unfair Commercial Practices

“I’ve heard about traders who have used aggressive tactics to sell products to vulnerable consumers, and businesses that were powerless to stop suppliers varying the terms of their contract, including price.” More>>

ALSO:

'Considering Options' On Tip Top Ownership: Fonterra Drops Forecast Milk Price

Fonterra Co-operative Group Limited today revised its 2018/19 forecast Farmgate Milk Price range from $6.25-$6.50 per kgMS to $6.00-$6.30 per kgMS and shared an update on its first quarter business performance. More>>

ALSO:

Science: Legendary Telescope Being Brought Back To Life

One of the world’s most famous Victorian telescopes will be restored and available for public viewing in Takapō after spending five decades in storage... The Brashear Telescope was used in the late 1800s by Percival Lowell for his studies of Mars. More>>