A closed Smiths City store.
Photo: RNZ / Nate McKinnon
Well-known retailer Smiths City has been placed in voluntary administration.
The chain is a popular furniture and electronics retailer, with a large presence in the South Island.
The company, which was founded in 1918, has nine stores across the country and an online store.
Administrators BDO, said the company had faced increasing financial pressures amid a challenging economic environment.
Despite closing some stores and further cuts, falling sales led to company director Colin Neal making the decision to halt trading.
BDO said as of Tuesday morning, all nine Smiths City stores and the online store had been temporarily closed for business to allow administrators to…