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Smiths City: stores shut amid voluntary administration

Competing with massive foreign-owned rivals eventually proved too tough for Smiths City, a Dunedin commercial property investor says. Smiths City Dunedin, which moved to Crawford St this year, was among nine stores that temporarily closed yesterday after the company was placed into voluntary administration. Property investor Jason La Hood, who is also a director of…

Retail icon Smiths City in voluntary administration

“Despite closures of some stores and further downsizing measures, declining sales meant that the director of the company took the decision that trading could no longer continue. “The voluntary administration process aims to achieve the best outcome for all stakeholders. This may include selling the business and assets to interested parties.” The administrators said they…