"Importantly, the first-half sales growth has ensured that the anticipated first-half loss will be significantly lower than the first-half loss of $2.7 million last year, further continuing an improving trend," the company said. The report came after Briscoe Group reported last week that its fourth quarter sales rose 14.32 percent from the same quarter a year ago. The company reports first-half earnings on March 9. Group sales lifted 5.5 percent in the important November-to-January second quarter. Postie Plus Group Ltd said sales increased by 9.25 percent in the six months ended Janucompared to the same period last year. Family members have small shareholdings.POSITIVE DATA: Postie Plus Group Ltd said sales increased by 9.25 percent in the six months ended Janucompared to the same period last year. The company was founded on the West Coast and built into a large retailer by the Dellaca family. Postie Plus is listed on the New Zealand sharemarket and trading in its shares was suspended on June 3 at 7.3 cents a share. However, Reid said the union was happy to see a substantial number of stores would remain open. "They seemed to believe they had no obligation to consult the union." The union representing Postie's workers said yesterday it was considering legal action against the administrators.įirst Union general secretary Robert Reid said they had been "extraordinarily tight-lipped" throughout the redundancies and failed to consult the union as required by employment rules. The business was sold as a going concern. The administrators would now attend to post completion matters, including the calling of the Watershed Meeting for creditors as required under the rules governing voluntary administrations. The administrators confirmed four Postie stores would close and that 28 more staff will be made redundant in the process. Pepkor is a well established apparel and footwear retailer, originally based in South Africa, and now with retailing operations throughout Southern Africa, in Eastern Europe and Australia where its operations include the Best & Less and Harris Scarfe chains.Īdministrator David Bridgman said he believed the sale was in the best interests of all creditors of Postie Plus and its staff. Administration is a short-term measure to try to avoid liquidation. Postie Plus was placed in the hands of administrators, PricewaterhouseCoopers, on June 3. Many of the suppliers to Postie would be able to continue trading with Postie under the new owners. They said the deal involved the transfer of Postie's Auckland head office and 64 retail stores to Roan. A month ago administrators said 12 would close and today they added another four would close.Īdministrators said 530 of Postie's 560 staff had accepted jobs with Roan.
Postie head office staff and most of the retail store staff will be employed by Roan and chief executive Richard Binns stays to continue to lead the company.
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