16 Jan 2010

DIY store branches in receivership

6:02 am on 16 January 2010

Three branches of the building supplies company Mitre 10 are in receivership.

The three are smaller sites in Wellington at Tory street, Kilbirnie and Crofton Downs. They are the only shops affected.

The accountancy firm BDO is handling the receivership.

The plan at this stage is for the three shops to carry on trading and be sold as going concerns.

Mitre 10 stores are independently owned but are connected by a franchise agreement.

Mitre 10 was started in Australia, but the New Zealand business is independently owned.

The receiver was appointed on 22 December.