Menswear firm unable to find buyer
After falling into administration last month, Neale Jackson from the appointed admin firm KordaMentha said that without expressions of interest being received, there was no choice but to wind down the business.
“We now move to the next phase of administration which is to sell down all stock through the current store network,” he said.
All stock will be discounted as the company begins closing the seven stores that remain open at Auckland (LynMall, Manukau, St Lukes, Albany), The Base and Centreplace in Hamilton, and Riccarton in Christchurch.
Vere Sharma, Meccano director, had previously said the retailer was unable to adapt fast enough to what has been a trying time for many mall-based retailers.
Most Read Stories
Cult Australian denim label Ksubi is looking to launch two flagship stores in Australia, following the success of i… https://t.co/TfXiJi4Cxv1 day ago
Restaurant brands will bring 60 Taco Bell stores to New Zealand, NSW and the ACT, starting in 2019. https://t.co/dpoyj8pmK71 day ago