Kirkcaldie faces $1.3M bill for future lease payment of Petone warehouse after deal falls over

Fri, 08 Apr 2016

By Tina Morrison April 8 (BusinessDesk) - Kirkcaldie & Stains, which closed its iconic Wellington retail store in January, faces a $1.3 million cost for future lease payments at its warehouse and office space in Petone after the landlord failed to sell the building, preventing an exit of the lease ahead of its April 30, 2023, expiry. "The directors continue to actively pursue opportunities to mitigate the ongoing commitments under the lease," Kirkcaldie chair Falcon Clouston said in a statement. The company also holds a non-cancellable...

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