Homewares chain Redcurrent placed in liquidation

(Source: redcurrentnz/Facebook)

Homewares and lifestyle retailer Redcurrent has been placed in voluntary liquidation after the director said “difficult” market conditions made it impossible to continue to trade.

Liquidators Larissa Logan and Rhys Cain of EY have been appointed to carry out the insolvency proceedings of the company.

Founded by mother and daughter duo, Audrey McHardy and Rebecca Kain, Redcurrent sells a wide range of homeware products from premium brands such as Glasshouse Fragrances, Ecoya, Saben & Nature Baby.

Stuff reported that in May 2020, Kain said she had lost an estimated $1 million in turnover over six weeks due to the pandemic.

In a Facebook post, the company said it will be closing shortly after 25 years of operations.

“There have been many challenges to retail in recent years and there was a range of factors that led us to this decision, not least of all the effects of Covid.

“After working our hardest to surmount these, we recognise that the chosen path is the best course of action.”

The retailer will close its Queenstown shop at the end of the month while its Wellington and Havelock North stores will close immediately.

Meanwhile, the Newmarket and Merivale stores and its online store will continue trading indefinitely as the liquidation proceeds.

Two years ago, furniture and homewares giant Nido closed down, highlighting the challenges in the sector.

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