Torpedo7 sold for $1 by Warehouse Group
Investment group Tahua Partners picked up the ailing retail business, which Warehouse Group bought for $52 million.
The Warehouse Group has cut Torpedo7 loose.
Torpedo7 has been sold by The Warehouse Group for just $1 to investment consortium Tahua Partners.
The group expected the sale would result in a non-cash, pre-tax accounting write-down ranging between $55-$65 million in its interim income statement, subject to audit and final review.
The Warehouse
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