BUSINESS BREAKDOWN: End of an era as David Jones set to replace Wellington's iconic Kirks store

Thu, 04 Jun 2015

June 5 (BusinessDesk) - Wellington's iconic department store Kirkcaldie & Stains is bowing out after 152 years on the city's golden mile shopping precinct, to be replaced by the Australian brand David Jones. Kirks said yesterday that David Jones, owned by South Africa's Woolworths Holdings, would pay A$500,000 for the Kirkcaldie name and take over the lease of the Lambton Quay site, with the option to buy the retailer's assets for $500,000. Kirks stock soared on the news. The unprofitable Wellington retailer has been struggling in recent...

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