We are regularly on the lookout for enthusiastic and team-oriented people who would like to work with us at Briscoe Group, Briscoes Homeware, Rebel Sport and Living & Giving to supply quality and competitively priced homeware and sporting goods to the New Zealand market. The Profit Centre teams are supported by others who work at our Distribution Centre, our On-line Fulfilment and Contact Centre or in our Support Office Team, which consists of Buyers, Finance and Administration, Internal Audit, Marketing, Human Resources, Loss Prevention, Property, IT and other support functions. Most of our people work in the Briscoes Homeware, Rebel Sport and Living & Giving stores, which are grouped into Profit Centres throughout New Zealand. #Postie plus group limited free#The Administrators recognise that this is a difficult and uncertain period for all stakeholders and appreciate their patience whilst they work with the prospective purchaser to satisfy the conditions so that the sale of the Postie Plus business can proceed in an orderly manner.We employ approximately 2,100 people, and during the peak Christmas trading period we employ up to 400 additional employees for a fixed term period. Free and open company data on New Zealand company POSTIE PLUS GROUP LIMITED (company number 5308521), Level 1, Tower 2, 646 Great South Road, Ellerslie. The Administrators believe that this “going concern sale” of the Postie Plus business is in the best interests of the Company’s stakeholders, including its secured creditors, trade suppliers and other creditors, landlords as well as the Company’s more than 600 staff. In the meantime, the Administrators, with the support of the Company’s management and staff, intend to continue trading the business whilst they work through the sale process. The intended purchaser is conducting due diligence over the next three weeks and subject to this due diligence and finalisation of formal documentation, the sale is expected to be completed within the next four weeks. Postie Plus Group Limited (Administrators Appointed)Ĭonditional agreement to sell the assets and business of the Companyĭavid Bridgman and Colin McCloy, as the Administrators of Postie Plus Group Limited (Administrators Appointed) are pleased to announce a conditional agreement to sell the assets and business of the Company as a going concern to an international retail group. In its interim results release Postie Plus said its board was satisfied arrangements in place with BNZ were sufficient to meet forecast funding requirements up to July 30. “We are pleased to hear that they have voluntarily relinquished administration of the business and we have been informed by the administrator that there are a number of credible and interested parties," Gay added. Discover all the very latest Postie Plus Group Limited apparel business news, analysis, comment and interviews from the industry experts at just-style. The last few years have been hard on the Postie Plus Group, and they have struggled to deal with serious supply chain issues.” "Existing employees have been told that they will remain in their current roles and will continue to work agreed hours unless otherwise advised," Maxine Gay, retail secretary at First Union said. Best & Less Group is the fifth investment in. In December 2019, Allegro acquired the businesses from Greenlit Brands. The two brands together operate over 250 stores across Australia and New Zealand and employ over 4,000 employees. As a result of this, the borrowings have been reclassified as a current liability as at 4th August 2013," the annual report said.įirst Union, which represents retail workers, said it was saddened but not surprised by new Postie Plus was going into voluntary administration. Postie Plus Group Limited (Administrators Appointed) David Bridgman and Colin McCloy, as Administrators of Postie Plus, have today announced they have completed the sale of the Postie Plus business to Roan Limited, a wholly owned subsidiary of Pepkor Limited. Best & Less Group is made up of iconic retail brands that include Best & Less and Postie (NZ). "The bank will not provide a waiver in respect of these breaches and while the bank does not propose any immediate action under the breaches it continues to reserve all rights and remedies in this regard. This property represents an excellent opportunity for a savy investor to secure a national brand tenant in a modern building at a great yield. Last year's annual report noted as of AugPostie Plus was in breach of its financial covenants - stock and debtors coverage ratio and equity ratio - with BNZ. This store is one of the top 10 performing stores for Postie Plus in the country.
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