Banks Group Limited (In Receivership)

Media release
Friday, 26 May 2017

Banks Group Limited (In Receivership) trading as Shoe Connection, SNKR, Banks Shoes and Plimmer Shoes

On 26 May 2017 John Fisk and David Bridgman, Partners from PwC, were appointed receivers to Banks Group Limited which trades as Shoe Connection, SNKR, Banks Shoes and Plimmer Shoes. The receivership has occurred following a request to appoint receivers by the director of the Company.

The Company operates from 14 stores in Auckland, Wellington and Christchurch, in addition to an on-line store, and employs approximately 170 staff.

The Receivers will work with management to assess the current position of the Company, and to determine the best way forward with a view to achieving a sale of the business as a going concern either as a whole or in part. This may involve some store closures.

The Receivers are yet to determine the full extent of creditor claims.

-Ends-

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