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Smiths City placed into administration  The Press Read the original article here
Smiths City goes into voluntary administration  Stuff Read the original article here
A closed Smiths City store. Photo: RNZ / Nate McKinnon Well-known retailer Smiths City has been placed in voluntary administration.
Smiths City. (File photo) Photo: Google Maps Well-known retailer Smiths City has been placed in voluntary administration. The chain is
Dunedin's Smiths City store has been "temporarily closed" for business this morning as the beleaguered retailer enters voluntary administration. The
The company was previously in receivership in 2020, when it was acquired by Colin Neal’s Polar Capital and delisted. Smiths
National retailer Smiths City has "temporarily" closed all of its stores after being placed in voluntary administration. Staff were called
Christchurch-based national retail chain Smiths City will close all of its stores after being placed in voluntary administration. Staff were
King hit: Mercedes mess claims another victim  The West Australian Read the original article here
Christchurch-based national retail chain Smiths City will close all of its stores across New Zealand after being placed in voluntary
Smiths City in voluntary administration  MSN Read the original article here

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Smiths City placed into administration  The Press

Read the original article here

Smiths City goes into voluntary administration  Stuff

Read the original article here

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…

Read the original article here

Smiths City. (File photo)
Photo: Google Maps

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 undertake an…

Read the original article here

Dunedin’s Smiths City store has been “temporarily closed” for business this morning as the beleaguered retailer enters voluntary administration.

The Dunedin store, which moved to Crawford St last year, is one of nine Smiths City shops across New Zealand to close their doors today.

The big box retailer last month announced a downsizing which included the closure of its Wānaka store.

Founded in Christchurch in 1918, the company had disclosed it was facing increasing financial pressures.

“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,” administrators BDO New Zealand said in a statement.

“The voluntary…

Read the original article here

The company was previously in receivership in 2020, when it was acquired by Colin Neal’s Polar Capital and delisted.

Smiths City has nine stores and employs more than 110 staff.

Smiths City has been moved into voluntary administration, affecting more than 110 staff. 

The home appliances and furniture retailer has nine bricks-and-mortar stores as well as online operations.  

This morning, BDO insolvency practitioners Colin Gower and Diana Matchett were appointed as

Read the original article here

National retailer Smiths City has “temporarily” closed all of its stores after being placed in voluntary administration.

Staff were called into a meeting at 9am on Tuesday and informed of the decision.

All nine remaining Smiths City stores across New Zealand and its online shop have now been “temporarily closed for business” to assess the business’s financial situation.  

BDO New Zealand has been appointed as the administrator.

BDO said in a statement it aims to “reopen stores later this week”.

“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,” BDO said.

“The voluntary administration process aims to…

Read the original article here

Christchurch-based national retail chain Smiths City will close all of its stores after being placed in voluntary administration.

Staff were called into a meeting at 9am on Tuesday and informed of the decision.

All nine remaining Smiths City stores across New Zealand and its online shop have now been “temporarily closed for business” to assess the business’s financial situation.  

BDO New Zealand has been appointed as the administrator.

BDO said in a statement it aims to “reopen stores later this week”.

“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,” BDO said.

“The voluntary administration process…

Read the original article here

King hit: Mercedes mess claims another victim  The West Australian

Read the original article here

Christchurch-based national retail chain Smiths City will close all of its stores across New Zealand after being placed in voluntary administration.

Staff were called into a meeting at 9am on Tuesday and informed of the decision.

All nine remaining Smiths City stores and its online shop have now been “temporarily closed for business” to assess its financial situation.  

BDO New Zealand has been appointed as the administrator.

In September last year, Smiths City merged its Colombo St outlet in Christchurch with its nearby store in The Colombo Mall.

Then last month it announced another downsizing which included the closure of its Wānaka store.

Founded in Christchurch in 1918, Smiths City has been facing increasing financial…

Read the original article here

Smiths City in voluntary administration  MSN

Read the original article here