30 Mar 2011

Colorado clothing group placed in administration

6:15 pm on 30 March 2011

The clothing and footwear company Colorado has been placed in administration.

There are 10 Colorado stores in New Zealand and 420 in Australia.

The private-equity-owned group owes $230 million to lenders who have rejected a recovery plan from the company.

The Colorado Group says ina statement that it is disappointed with the rejection of the plan which, it says, could have saved the company.