The fate of one of New Zealand’s most recognisable retailers remains uncertain after administrators confirmed Smiths City is entering ‘liquidation sale’ proceedings while they continue talks with potential buyers.
Smiths City Limited, which operates nine stores nationwide and employs more than 110 staff, was placed into voluntary administration on Tuesday.
The company’s administrators, Colin Gower and Diana Matchett of BDO Christchurch, have now completed their initial assessment of the company’s finances and a full stocktake of its stores.
They said discussions were underway with parties interested in taking over parts of the business or its assets, with expressions of interest still being sought.
Eight of the nine Smiths…