Jirsch Sutherland appointed as Administrator of Valleygirl

Valleygirl New Zealand Limited
Trading as Valleygirl and Temt
(Administrators Appointed)

Stewart Free and Andrew Spring from insolvency, turnaround and forensic specialist services firm Jirsch Sutherland were appointed Joint and Several Administrators of fashion boutique business Valleygirl New Zealand Limited on 22 July 2016.

The companies trade as ‘Valleygirl’ and ‘temt’ in New Zealand, and there are approximately 40 stores across the country.

“The New Zealand operation has suffered as a result of a downturn in trade and problems securing stock leading to difficulties maintaining creditors’ payments, notably to landlords,” Mr Free said.

The Administrators have continued to trade on whilst a potential purchase is explored.

“We are currently investigating the best options for preserving the business operations, which include investigating a potential sale of the business, and by virtue trying to ensure that employees are best looked after,” Mr Free added.

Mr Free and Mr Spring were also concurrently appointed as Joint & Several Voluntary Liquidators of the Australian retail and supply companies being MHN Trading Pty Limited and Hanama Collection Pty Limited. The companies traded as ‘Paper Scissors’ and ‘Chicabooti’ in Australia. The Australian operations have ceased to trade.

ENDS

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