Punter was also chairman of Flotech Group and of WhisperTech, and was an independent director of the Motor Trade Association and an independent member of the Fonterra milk price panel. #Postie plus sale full#He would remain as a director to support the new chairman Richard Punter, who had been a full time professional director for 15 years and an independent director of Postie Plus since its inception in 2003. All orders are custom made and most ship. The company also said chairman Peter van Rij had decided to step down from the position due to work commitments. Shop Postie Bike iPhone and Samsung Galaxy cases by independent artists and designers from around the world. Margins would continue to be under pressure given the ongoing discounting pressure in the segment. Second half revenue was traditionally larger and that was expected to be the case this year, but the company was cautious about the outlook for the next half given the inconsistent pattern of trade in the past six months, Postie Plus said. The first half result, due on March 24, was expected to show a reduction in last year's first half loss. Market share increased further in what continued to be a difficult retail climate, particularly for the speciality apparel segment, Postie Plus said today. Online orders of 0 or more Bills Motorcycles Plus is a powersports. Same store sales at the group, which includes Postie and Babycity stores, were also up 4.6 per cent from a year earlier for the half year to the end of January. Moped scooters for sale, I have 2 of these scooters for sale they are in rough. This includes its secured creditors, trade suppliers and other creditors, landlords, as well as the company’s more than 600 staff.Īdministrators also reiterated that patience is required from all company stakeholders whilst they work with the prospective purchaser to satisfy the conditions so that the sale of the Postie Plus business can proceed “in an orderly manner”.Clothing and baby products retailer Postie Plus Group lifted first half sales 4.6 percent from a year earlier, and is expecting a smaller loss for the six month period. The administrators said they believe that this “going concern sale” of the Postie Plus business is in the best interests of the company’s stakeholders. Postie Plus sales fall, Babycity sell-off approved. In the meantime, the administrators intend to continue trading the business whilst they work through the sale process. Postie Plus wants to double in size through buying rivals and will progressively shift its base to Auckland. Subject to this due diligence and finalisation of formal documentation, the sale is expected to be completed within the next four weeks. The intended purchaser is conducting due diligence over the next three weeks. Administrators of Postie Plus announced this afternoon its sale. The company has now confirmed that the administrators have clinched a conditional agreement to sell the assets and business of Postie Plus as a going concern to an international retail group. Postie Plus sale to Pepkor confirmed One of the country's oldest retailers has been sold to a South African retail investment group. New Zealand fashion retailer Postie Plus has received an offer of salvation, following its collapse into administration.Īs previously reported on, Postie Plus appointed David Bridgman and Colin McCloy of PricewaterhouseCoopers as administrators of the company earlier this week.
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