November 9, 2010

 
Jean Jones receivers buoyed by strong buyer interest

Receivers for the Jean Jones clothing stores have had an excellent response from potential buyers and expect a sale to be concluded before the end of the year.
 
Receiver Mike Horne of Deloitte said a review of the company’s position had confirmed earlier indications that the nationwide women’s fashion chain was fundamentally a strong business and its problems were primarily caused by factors external to its operations.

Mr Horne said Jean Jones’ loyal customer base and viable business model meant there had been strong interest from prospective buyers to date.

“I am optimistic about securing a good, long-term future for a well-respected Kiwi brand within the next four to six weeks,” Mr Horne said.

Along with positioning the business for sale, the receivers’ other main focus was on increasing stock levels to take advantage of the Christmas and summer period.

Mr Horne and Murray Frost of Deloitte were appointed receivers to the fashion chain late last month.

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