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Seedling NZ placed in receivership
5 June 2018
MEDIA RELEASE
Auckland based Seedling NZ Limited has been placed into receivership. Seedling distributes children’s educational arts and craft projects across Australasia through retail and wholesale channels, offering unique activities, toys and crafts for children.
KordaMentha partners, Natalie Burrett and Neale Jackson have been appointed Receivers.
Seedling has been operating for 10 years, with growth into the US market in recent years. Receiver, Natalie Burrett, says the company has effectively exhausted its options to secure its working capital needs.
“Seedling is an established retailer and wholesaler. The ‘Seedling’ brand is strongly recognised across New Zealand and Australia, with customers including Whitcoulls, Smith & Caughey’s, Myers and David Jones.”
Receivers will look to transition the business through a sale process and ultimately to a new owner who has the resources required to capitalise on Seedling’s full potential.
“We are currently assessing the options that are available to optimise the value of Seedling’s assets” Burrett said.
Currently, Seedling employs 8
staff in New Zealand.
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