Colorado to honour vouchers
Gift vouchers and lay-bys will be honoured by Colorado stores which were placed in receivership this week.
Gift vouchers and lay-bys will be honoured by Colorado stores which were placed in receivership this week.
New Zealand's 10 Colorado stores are continuing to trade as normal despite the Australian private equity- owned clothing and footwear retailer going into administration and then receivership on Wednesday.
Ferrier Hodgson partners James Stewart, Brendan Richards and Will Colwell were appointed receivers and managers over the group at the request of the syndicate of secured creditors owed A$400 million.
Colorado group chief executive Kevin Roberts, in an update yesterday, said that it would be business as usual while the receivers examine options for the future of the group.
He confirmed that all gift vouchers and lay-bys would be honoured, and said the receivers had committed to protect employee entitlements for all staff.
NZPA
Sat, 02 Apr 2011
Sat, 02 Apr 2011
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Colorado to honour vouchers
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