Nzx Statement: Update of the Christchurch Earthquake

Postie Plus Group Ltd

Postie Plus Group Ltd (‘PPGL’) advises that the national retail group’s Christchurch head office, located in the city’s Addington area, has been reopened for business and is fully operational.

“We are pleased to that the office has been inspected and was passed fit for occupation,” said PPGL chief executive Ron Boskell.

“Staff resumed work from Monday 28 February. All systems have been working for the duration of the crisis period and as such we have no issues with stock or financial records.”

Christchurch Staff:

“We are so relieved and thankful that all of our hundreds of staff who work in the city, in stores and at our head office, have escaped injury; however many have suffered damage to their homes and as a result a great deal of personal loss.

“We are blessed with an amazing staff who have been selfless in their endeavour to put things right, to comfort those in need and remain committed to the Group during this most difficult time.”

“For the Christchurch community we offer our deepest condolences to those who have suffered through this tragedy.

Our customers and suppliers:

“We have been overwhelmed with the thoughts, actions and offers of assistance from both our customers and suppliers throughout New Zealand. We thank them for this and assure them that Christchurch may be battered, and parts of the CBD broken, but the spirit of Cantabrians is strong and they will prevail.”

Retail stores:

“Seven of the ten Christchurch stores are trading; the remaining three (Sydenham, Eastgate and New Brighton) will resume as their buildings are provided a clearance to do so. PPGL have no buildings within the Christchurch CBD. The 93 national stores have remained trading with no interruption.”

Distribution Centre:

“PPGL is aware that many of the city’s residents cannot return to their properties and are affected with loss of belongings.

“We expect to have access to stock from today Tuesday 1 March which will see new season’s stock sent to all stores; replenishment is likely to be delayed until Thursday 3 March.”

Insurance:

“PPGL has business interruption insurance which will cover the loss of profit from the event.”

ENDS

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