Postie Plus Group Limited
Troubled New Zealand clothing retailer Postie Plus has been sold to Roan Ltd, a wholly owned subsidiary of South African investment company Pepkor.
An international buyer has been found for Postie Plus, after ongoing losses and lack of new capital forced the troubled New Zealand clothing retailer to call in the administrators earlier this week.
New Zealand retailer Postie Plus Group has said it expects to post a full year loss as its third quarter results were hit by autumn stock levels and issues at its distribution centre.
New Zealand-based clothing retailer Postie Plus has revealed a decline in first-quarter sales, which it blames on delays in getting stock into its stores from a new distribution centre in Auckland.
Clothing chain Postie Plus has appointed Peter Nouwens as its new chief financial officer.
- COMMENT: The decline of the buying office
- 2014: Year in review - Sourcing winners and losers
- 2014: Year in review - Retail winners and losers
- 2014: Year in review - Brand winners and losers
- Vietnam factories face fire safety challenge
- Wage theft of migrants in Thai apparel industry
- Triumph recalls 22,000 bras for underwire fault
- Investigation uncovers China's dog leather trade
- Nike shares slide on future orders in Q2
- Philippines added to European Union GSP+ scheme