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Jean Jones receivers buoyed by strong interest
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.
ends
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